334-336 Bergen Street Housing Development Fund Corporation

Analysis

334-336 Bergen Street Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1989, 37 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, 334-336 Bergen Street Housing Development Fund Corporation reported income of $1.7m and spending of $2.2m, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $1.7m (+35%), an average of +7.7% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 334-336 Bergen Street Housing Development Fund Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Everglades Housing Trust Inc ($1.7m), TN Development Corp ($1.7m) and Bnai Brith Senior Citizens Housing of Fort Worth Support Corporation ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. Other salaries and wages came to $542k. At year end it held assets of $1.5m against liabilities of $956k, net assets of $562k. It reported 16 employees.