Breaking Ground II Housing Development Fund Corporation

Analysis

Breaking Ground II Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Breaking Ground II Housing Development Fund Corporation reported income of $4.8m and spending of $2.0m, leaving 58% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $13.0m to $4.8m (-63%), an average of -22% a year. The sharpest change came in the year to December 2023, when income rose by 148%. Over the whole period it spent 32% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Breaking Ground II 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 89th percentile within NY. Charities of a similar size with the same main cause include Richfield Senior Housing Inc ($4.8m), Santa Barbara Rescue Mission ($4.8m) and Volunteer Ministry Center Inc ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 167% of the total. Other salaries and wages came to $472k. At year end it held assets of $115.7m against liabilities of $17.9m, net assets of $97.9m.