Park Avenue Thorpe Housing Development Fund Corporation

Analysis

Park Avenue Thorpe Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in December 2017, 9 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, Park Avenue Thorpe Housing Development Fund Corporation reported income of $288k and spending of $442k, spending 153% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $281k to $288k (+2.4%), an average of +0.6% a year. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Park Avenue Thorpe Housing Development Fund Corporation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Casitas Cash ($288k), Mission Carthage Inc ($288k) and Notre Dame Housing Inc ($288k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. At year end it held assets of $955k against liabilities of $594k, net assets of $361k.

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.