Mount Olivet Housing Development Fund Company Inc

Analysis

Mount Olivet Housing Development Fund Company Inc is a registered charity in United States, based in Peekskill, NY. It received its IRS tax-exemption ruling in December 1996, 30 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 December 2023, Mount Olivet Housing Development Fund Company Inc reported income of $61k and spending of $51k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $50k to $61k (+24%), an average of +5.4% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mount Olivet Housing Development Fund Company Inc sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within NY. Charities of a similar size with the same main cause include Silver Flower Homes Inc ($61k), Community Services Fourth Housing Corporation ($61k) and Bethel House Incorporated ($61k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $206k against liabilities of $17k, net assets of $189k.