2044 Seventh Avenue Housing Development Fund Corporation

Analysis

2044 Seventh Avenue Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2016, 10 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, 2044 Seventh Avenue Housing Development Fund Corporation reported income of $284k and spending of $437k, spending 154% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $380k to $284k (-25%), an average of -7.0% a year. The sharpest change came in the year to December 2022, when income dropped by 30%. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 2044 Seventh Avenue Housing Development Fund Corporation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Whitfield Place Inc ($284k), Will Wood V ($284k) and Reside Affordable Inc ($284k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 93% of the total. At year end it held assets of $1.5m against liabilities of $2.2m, net assets of -$707k.

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.