New Destiny Housing Corporation

Analysis

New Destiny Housing Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1995, 31 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Destiny Housing Corporation reported income of $10.8m and spending of $10.7m, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $4.8m to $10.8m (+123%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 146%. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Destiny Housing Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Meadowbrook Village Christian Retirement Community ($10.8m), Moorings Park Community Health Incorporated ($10.8m) and Avesta Housing Development Corporation ($10.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $519k (4.8% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $16.1m against liabilities of $2.0m, net assets of $14.0m. It reported 182 employees.