K&l Housing Developement Fund Company Inc

Analysis

K&l Housing Developement Fund Company Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 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, K&l Housing Developement Fund Company Inc reported income of $1.0m and spending of $1.2m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $775k to $1.0m (+33%), an average of +7.4% a year. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, K&l Housing Developement Fund Company 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 Summit Hill Community Development Corporation ($1.0m), Portage County Land Reutilization Corporation ($1.0m) and Family Promise of Western New York ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $327k. At year end it held assets of $3.5m against liabilities of $6.6m, net assets of -$3.1m.

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.