Prospect Housing Development Fund Corporation

Analysis

Prospect Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 2005, 21 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, Prospect Housing Development Fund Corporation reported income of $340k and spending of $277k, spending 81% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $315k to $340k (+8.1%), an average of +1.6% a year. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Prospect Housing Development Fund Corporation sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Quinnipiac Valley Community Development Corporation ($340k), Maryvale Apartments Inc ($340k) and Innovative Housing Institute Inc ($340k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $1.2m against liabilities of $886k, net assets of $336k.