Citileaf Housing Development Fund Corporation

Analysis

Citileaf Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1994, 32 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Citileaf Housing Development Fund Corporation reported income of $1.7m and spending of $2.1m, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.9m to $1.7m (-11%), an average of -2.8% a year. The sharpest change came in the year to December 2021, when income rose by 21%. Over the whole period it spent 131% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Citileaf Housing Development Fund Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Southeast Childrens Fund Inc ($1.7m), Adirondack Mennonite Retirement Community Inc ($1.7m) and Makoce Agriculture Development ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $354k (17% of expenses). Other salaries and wages came to $327k. At year end it held assets of $3.5m against liabilities of $8.0m, net assets of -$4.5m. It reported 17 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.