Crotona Park West Housing Development Fund Corporation

Analysis

Crotona Park West Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 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 September 2023, Crotona Park West Housing Development Fund Corporation reported income of $7.6m and spending of $9.8m, spending 129% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $6.9m to $7.6m (+9.4%), an average of +2.3% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Crotona Park West Housing Development Fund Corporation 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 Commonwealth Land Trust Property Bowdoin Manor ($7.5m), Fenway Community Development Corp ($7.6m) and Carnegie East House Housing Development Fund Company Inc ($7.5m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $1.7m. At year end it held assets of $21.9m against liabilities of $57.8m, net assets of -$35.9m. It reported 32 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.