Minford Gardens Housing Development Fund Company Inc

Analysis

Minford Gardens Housing Development Fund Company Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in July 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, Minford Gardens Housing Development Fund Company Inc reported income of $1.3m and spending of $1.1m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $483k to $1.3m (+177%), an average of +29% a year. The sharpest change came in the year to December 2020, when income rose by 93%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Minford Gardens Housing Development Fund Company Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($1.3m), Louttit Manor Inc ($1.3m) and Sisters of Charity Health Care System Housing Development Fund Co ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $27k. At year end it held assets of $4.1m against liabilities of $8.1m, net assets of -$3.9m. It reported 2 employees.