Encore 49 Housing Development Fund Co Inc

Analysis

Encore 49 Housing Development Fund Co Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1990, 36 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 June 2023, Encore 49 Housing Development Fund Co Inc reported income of $764k and spending of $925k, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $864k to $764k (-12%), an average of -3.0% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Encore 49 Housing Development Fund Co Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include The Harry and Jeanette Weinberg Village III Inc ($763k), Housing Help Plus ($764k) and Sierra Gateway Senior Residence ($762k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $248k. At year end it held assets of $1.2m against liabilities of $1.2m, net assets of -$27k.

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.