Harlem West II Housing Dev Fund Co Inc

Analysis

Harlem West II Housing Dev Fund Co Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Harlem West II Housing Dev Fund Co Inc reported income of $2.2m and spending of $2.8m, spending 123% of what it took in. Across the 3 years on record, from March 2018 to March 2023, income grew from $911k to $2.2m (+146%), an average of +57% a year. The sharpest change came in the year to March 2023, when income rose by 85%. Over the whole period it spent 356% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Harlem West II Housing Dev Fund Co Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Price Hill Will ($2.2m), Buffalo Neighborhood Stabilization Company Inc ($2.2m) and Fairlawn ($2.2m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 0.7% and program service revenue 95% of the total. At year end it held assets of $6.3m against liabilities of $16.6m, net assets of -$10.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.