Downtown Manhattan Community Development Corporation

Analysis

Downtown Manhattan Community Development Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Downtown Manhattan Community Development Corporation reported income of $867k and spending of $931k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $584k to $867k (+49%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Downtown Manhattan Community Development Corporation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include Senior Affordable Housing Corp No 3 ($867k), Sunset Charities Housing Corporation ($868k) and Providence Corporation ($866k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $275k (30% of expenses). At year end it held assets of $2.4m against liabilities of $2.7m, net assets of -$354k. It reported 1 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.