Shore Front Council Housing Development Fund Corp

Analysis

Shore Front Council Housing Development Fund Corp is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1990, 36 years ago. 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, Shore Front Council Housing Development Fund Corp reported income of $616k and spending of $1.2m, spending 190% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $616k (-50%), an average of -16% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 148% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Shore Front Council Housing Development Fund Corp sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Georgia Shift ($616k), Foundation for Leadership California ($616k) and Right Directions Inc ($616k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $3.5m against liabilities of $6.3m, net assets of -$2.9m.

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.