Homes for New Yorkers

Analysis

Homes for New Yorkers is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1978, 48 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Homes for New Yorkers reported income of $1.3m and spending of $641k, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $469k to $1.3m (+188%), an average of +30% a year. The sharpest change came in the year to December 2023, when income rose by 123%. Over the whole period it spent 29% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homes for New Yorkers sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Boy Scouts of America ($1.3m), Clovis Christian Schools Inc ($1.3m) and Carroll Co Agriculture Center ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $21.2m against liabilities of $13.5m, net assets of $7.7m.