Metro North Gardens Housing Development Fund Corporation

Analysis

Metro North Gardens Housing Development Fund Corporation is a registered charity in United States, based in Bronx, 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 September 2023, Metro North Gardens Housing Development Fund Corporation reported income of $1.1m and spending of $1.1m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $971k to $1.1m (+8.9%), an average of +2.2% a year. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Metro North Gardens Housing Development Fund Corporation sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Ontario Senior Housing Inc ($1.1m), Next Step Network Inc ($1.1m) and Beatrice C Catullo Residence Housing Development Fund Corp ($1.1m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $6.9m against liabilities of $6.4m, net assets of $511k.