353-365 Housing Development Fund Company Inc

Analysis

353-365 Housing Development Fund Company Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2017, 9 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 June 2023, 353-365 Housing Development Fund Company Inc reported income of $2.6m and spending of $2.3m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $2.6m (+102%), an average of +19% a year. The sharpest change came in the year to June 2020, when income rose by 279%. Over the whole period it spent 59% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 353-365 Housing Development Fund Company Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Archdiocesan Housing Inc ($2.6m), National Development Foundation Inc ($2.6m) and Ives Hill Retirement Community Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 93% of the total. At year end it held assets of $14.7m against liabilities of $10.4m, net assets of $4.3m.