Presbyterian Housing Development Fund Corporation of Queens

Analysis

Presbyterian Housing Development Fund Corporation of Queens is a registered charity in United States, based in Lake Success, NY. It received its IRS tax-exemption ruling in October 1983, 43 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 August 2023, Presbyterian Housing Development Fund Corporation of Queens reported income of $2.5m and spending of $2.7m, spending 108% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.3m to $2.5m (+7.7%), an average of +1.9% a year. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Presbyterian Housing Development Fund Corporation of Queens sits at the 85th percentile: it is larger than about 84% 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 Alpha Project for the Homeless ($2.5m), Arkansas Methodist Medical Center Retirement Community Inc ($2.5m) and Vincent Properties Inc ($2.5m).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $344k. At year end it held assets of $5.3m against liabilities of $7.8m, net assets of -$2.5m. It reported 3 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.