Highbridge Senior Housing Development Fund Corporation

Analysis

Highbridge Senior Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in March 2000, 26 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, Highbridge Senior Housing Development Fund Corporation reported income of $1.2m and spending of $1.6m, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $862k to $1.2m (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Highbridge Senior Housing Development Fund Corporation sits at the 75th percentile: it is larger than about 75% 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 Ridgecrest at Richfield ($1.2m), Affordable Housing Corporation of Marion Indiana ($1.2m) and Empowered to Change Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $180k. At year end it held assets of $3.9m against liabilities of $10.1m, net assets of -$6.2m. It reported 4 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.