Fairmont Place Housing Development Fund Corporation

Analysis

Fairmont Place Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 1997, 29 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 April 2023, Fairmont Place Housing Development Fund Corporation reported income of $227k and spending of $511k, spending 225% of what it took in. Across the 4 years on record, from April 2020 to April 2023, income grew from $226k to $227k (+0.2%), an average of +0.1% a year. Over the whole period it spent 157% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Fairmont Place Housing Development Fund Corporation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NY. Charities of a similar size with the same main cause include Independent Living Community Services Inc ($227k), Merrill Community Homeless Center Inc ($227k) and Mount Zion Community Development Inc ($227k).

On its Form 990 for the period ending April 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $18k. At year end it held assets of $306k against liabilities of $156k, net assets of $150k.

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.