L E R Housing Development Fund Corporation

Analysis

L E R Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2003, 23 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 December 2023, L E R Housing Development Fund Corporation reported income of $379k and spending of $412k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $311k to $379k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, L E R Housing Development Fund Corporation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Housing Trust Placer Inc ($378k), Ahepa 310-Xi Inc ($379k) and Friendly Acres Inc ($378k).

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 $53k. At year end it held assets of $1.1m against liabilities of $1.1m, net assets of -$22k. It reported 1 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.