Carmel Housing Development Fund Company Inc

Analysis

Carmel 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 March 1946, 80 years ago. 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 September 2023, Carmel Housing Development Fund Company Inc reported income of $1.1m and spending of $20k, leaving 98% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $842k to $1.1m (+36%), an average of +8.1% a year. The sharpest change came in the year to September 2022, when income rose by 16%. Over the whole period it spent 1.9% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carmel Housing Development Fund Company Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Heart and Armor Foundation ($1.1m), Hispanic Urban Minority Alcoholism and Drug Abuse Outreach Program ($1.1m) and Sexual Assault Support Services of Midcoast Maine ($1.1m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 95% of the total. At year end it held assets of $15.7m against liabilities of $328k, net assets of $15.3m.