721 East 6th Street Housing Development Fund Corporation

Analysis

721 East 6th Street 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 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, 721 East 6th Street Housing Development Fund Corporation reported income of $73k and spending of $156k, spending 213% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $110k to $73k (-34%), an average of -9.7% a year. The sharpest change came in the year to June 2022, when income dropped by 48%. Over the whole period it spent 149% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 721 East 6th Street Housing Development Fund Corporation sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 29th percentile within NY. Charities of a similar size with the same main cause include Dream House Homes Inc ($73k), Dunbar Heritage Apartments Inc ($73k) and Together with Friends Non-Profit Housing Corporation ($73k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. At year end it held assets of $475k against liabilities of $101k, net assets of $374k.

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.