Council Towers Housing Development Fund Corporation

Analysis

Council Towers Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1994, 32 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Council Towers Housing Development Fund Corporation reported income of $2.3m and spending of $2.2m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $2.3m (+77%), an average of +15% a year. The sharpest change came in the year to December 2020, when income rose by 43%. Over the whole period it spent 107% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Council Towers Housing Development Fund Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Carondelet Regional Medical PC ($2.3m), The California Wildlife Center ($2.3m) and National Association of Nurse Practitioners in Womens Health Inc ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. At year end it held assets of $3.7m against liabilities of $12.7m, net assets of -$9.0m.