F I T Student Housing Corporation

Analysis

F I T Student Housing Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 1987, 39 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 June 2023, F I T Student Housing Corporation reported income of $41.2m and spending of $35.3m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $34.9m to $41.2m (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2022, when income rose by 212%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, F I T Student Housing Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Childcaregroup ($41.1m), Hospice of Henderson County Inc ($41.3m) and Merit Network Inc ($41.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $105k. At year end it held assets of $171.2m against liabilities of $136.3m, net assets of $34.9m. It reported 83 employees.