General Chauncey M Hooper Towers Housing Development Fund Co Inc

Analysis

General Chauncey M Hooper Towers 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 December 1982, 44 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 September 2023, General Chauncey M Hooper Towers Housing Development Fund Co Inc reported income of $2.3m and spending of $2.4m, spending 105% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.9m to $2.3m (+19%), an average of +4.5% a year. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, General Chauncey M Hooper Towers Housing Development 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 Habitat for Humanity of the Mississippi Gulf Coast Inc ($2.3m), Welsh Mountain Home ($2.3m) and Sunset Apartments Housing Corporation ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.6% and program service revenue 93% of the total. Other salaries and wages came to $162k. At year end it held assets of $6.4m against liabilities of $10.8m, net assets of -$4.3m. It reported 7 employees.

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.