Washington Heights Development Fund Corporation

Analysis

Washington Heights Development Fund Corporation is a registered charity in United States, based in Yonkers, NY. It received its IRS tax-exemption ruling in June 1993, 33 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, Washington Heights Development Fund Corporation reported income of $414k and spending of $465k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $397k to $414k (+4.2%), an average of +1.0% a year. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Washington Heights Development Fund Corporation sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Tarrant County B Nai B Rith Housing ($414k), Affordable Housing Opportunities Inc ($414k) and Independence Heights Inc ($414k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $57k. At year end it held assets of $922k against liabilities of $87k, net assets of $835k.

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.