Edison Arms Housing Development Fund Co Inc

Analysis

Edison Arms Housing Development Fund Co Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in August 1990, 36 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, Edison Arms Housing Development Fund Co Inc reported income of $1.3m and spending of $1.4m, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $954k to $1.3m (+40%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 59%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Edison Arms Housing Development Fund Co Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Presioca Villa Interfaith Housing Corporation ($1.3m), Eastern Slope Housing ($1.3m) and Baptist Retirement Homes Foundation ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Other salaries and wages came to $106k. At year end it held assets of $3.2m against liabilities of $74k, net assets of $3.1m.