1850 Second Avenue Services Corp

Analysis

1850 Second Avenue Services Corp is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1991, 35 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, 1850 Second Avenue Services Corp reported income of $760k and spending of $883k, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $755k to $760k (+0.8%), an average of +0.2% a year. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 1850 Second Avenue Services Corp sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Silver Lake Housing Inc ($759k), 73rd & Dobson Housing Corp ($760k) and New River Cottage Inc ($759k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 27% of the total. Other salaries and wages came to $140k. At year end it held assets of $6.0m against liabilities of $6.2m, net assets of -$220k. It reported 6 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.