Carnegie East House Housing Development Fund Company Inc

Analysis

Carnegie East House 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 October 2000, 26 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Carnegie East House Housing Development Fund Company Inc reported income of $7.5m and spending of $7.2m, spending 96% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $6.7m to $7.5m (+13%), an average of +3.1% a year. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carnegie East House Housing Development Fund Company Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Opportunity House ($7.5m), Commonwealth Land Trust Property Bowdoin Manor ($7.5m) and Fund for Public Housing Inc ($7.5m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $189k (2.6% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $21.2m against liabilities of $25.4m, net assets of -$4.2m. It reported 45 employees.