Casella Plaza Housing Development Fund Corporation

Analysis

Casella Plaza Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Casella Plaza Housing Development Fund Corporation reported income of $1.3m and spending of $1.6m, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $1.3m (-1.4%), an average of -0.4% a year. Over the whole period it spent 123% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Casella Plaza Housing Development Fund Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Dae Inc ($1.3m), Harambee Community Development Initiative Inc ($1.3m) and Recovery Community Development Inc ($1.3m).

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 $114k. At year end it held assets of $3.4m against liabilities of $11.2m, net assets of -$7.8m. It reported 7 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.