Grand Concourse East Housing Development Fund Corporation

Analysis

Grand Concourse East Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 2004, 22 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 June 2023, Grand Concourse East Housing Development Fund Corporation reported income of $2.0m and spending of $2.2m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.2m to $2.0m (-6.6%), an average of -1.7% a year. The sharpest change came in the year to June 2023, when income dropped by 16%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grand Concourse East Housing Development Fund Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Midwest Affordable Housing Corporation ($2.0m), West Long Branch Senior Citizens Housing Corporation ($2.0m) and Columbus Affordable Housing Services Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $163k. At year end it held assets of $1.9m against liabilities of $1.2m, net assets of $701k. It reported 19 employees.