Highbridge Community Housing Development Fund Corporation

Analysis

Highbridge Community Housing Development Fund Corporation is a registered charity in United States, based in Bronx, 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 December 2023, Highbridge Community Housing Development Fund Corporation reported income of $10.1m and spending of $11.4m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.1m to $10.1m (+11%), an average of +2.7% a year. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Highbridge Community Housing Development Fund Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Milton-Fuller Housing Corporation ($10.1m), 2life Communities Inc ($10.1m) and Ccba Tai Tung Management Inc ($10.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $38.8m against liabilities of $94.5m, net assets of -$55.7m. It reported 38 employees.

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.