Amethyst Housing Development Fund Company Inc

Analysis

Amethyst 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 August 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 December 2023, Amethyst Housing Development Fund Company Inc reported income of $1.1m and spending of $1.2m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $827k to $1.1m (+32%), an average of +7.2% a year. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Amethyst 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 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Strategic Solutions for Families Inc ($1.1m), Turning Point Center for Youth & Family Development Inc ($1.1m) and Volunteers of America Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 18% of the total. At year end it held assets of $2.1m against liabilities of $5.7m, net assets of -$3.6m.

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.