Park Housing Development Fund Company Inc

Analysis

Park Housing Development Fund Company Inc is a registered charity in United States, based in Flushing, NY. It received its IRS tax-exemption ruling in August 1990, 36 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Park Housing Development Fund Company Inc reported income of $1.2m and spending of $1.5m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.2m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2022, when income rose by 18%. Over the whole period it spent 130% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Park Housing Development Fund Company Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Rappahannock Area YMCA Swim Team ($1.2m), Li Slammers ($1.2m) and Santa Fe Trail Blazers Association ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 7.9% of the total. Other salaries and wages came to $208k. At year end it held assets of $4.3m against liabilities of $9.8m, net assets of -$5.5m. It reported 8 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.