400-408 Housing Development Fund Co Inc

Analysis

400-408 Housing Development Fund Co Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2020, 6 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, 400-408 Housing Development Fund Co Inc reported income of $3.9m and spending of $2.0m, leaving 50% of income unspent that year. Across the 4 years on record, from March 2018 to March 2023, income grew from $3.6m to $3.9m (+7.3%), an average of +2.4% a year. The sharpest change came in the year to March 2022, when income rose by 31%. Over the whole period it spent 61% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 400-408 Housing Development Fund Co Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Bethany Center Senior Housing Inc ($3.9m), Tri-State Family YMCA ($3.9m) and Hope Partnership Inc ($3.9m).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $14.6m against liabilities of $4.5m, net assets of $10.1m.