Gates Avenue Housing Development Fund Corporation

Analysis

Gates Avenue Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1993, 33 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, Gates Avenue Housing Development Fund Corporation reported income of $669k and spending of $567k, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $639k to $669k (+4.7%), an average of +1.1% a year. The sharpest change came in the year to June 2022, when income rose by 71%. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gates Avenue Housing Development Fund Corporation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include California Community Land Trust Network ($669k), El Paso Coalition for the Homeless ($669k) and Friends of the Homeless of Tuscarawas County Inc ($668k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $13.6m against liabilities of $13.7m, net assets of -$60k.