Flemister Housing Development Fund Corporation

Analysis

Flemister Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1993, 33 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Flemister Housing Development Fund Corporation reported income of $1.7m and spending of $1.7m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.7m (+9.9%), an average of +2.4% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Flemister Housing Development Fund Corporation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Suncoast Health Council Inc ($1.7m), Prepass Government Solutions Inc ($1.7m) and Downtown Development Committee Nonprofit Corporation ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% of the total. Other salaries and wages came to $634k. At year end it held assets of $5.4m against liabilities of $8.5m, net assets of -$3.1m. It reported 30 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.