Alliance Apartments Housing Development Fund Co Inc

Analysis

Alliance Apartments Housing Development Fund Co Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 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 June 2023, Alliance Apartments Housing Development Fund Co Inc reported income of $1.0m and spending of $1.5m, spending 140% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $907k to $1.0m (+14%), an average of +3.4% a year. Over the whole period it spent 131% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Alliance Apartments Housing Development Fund Co Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Paco Housing Corporation I ($1.0m), Maywood Manor Senior Housing Inc ($1.0m) and PRG Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $168k. At year end it held assets of $2.3m against liabilities of $6.4m, net assets of -$4.1m.

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.