Muhlenberg Community Housing Development Fund Corporation

Analysis

Muhlenberg Community Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 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 2023, Muhlenberg Community Housing Development Fund Corporation reported income of $5.2m and spending of $6.0m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.8m to $5.2m (+36%), an average of +7.9% a year. The sharpest change came in the year to June 2022, when income rose by 17%. 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, Muhlenberg Community Housing Development Fund Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Threshold Residential Services Inc ($5.2m), Center for the Pacific Asian Family Inc ($5.2m) and Purchase College Foundation Housing Corporation ($5.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 27% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $14.2m against liabilities of $16.4m, net assets of -$2.2m. It reported 42 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.