Newset II HDFC

Analysis

Newset II HDFC is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Newset II HDFC reported income of $1.5m and spending of $1.9m, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $278k to $1.5m (+445%), an average of +53% a year. The sharpest change came in the year to December 2021, when income rose by 399%. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newset II HDFC sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Haddonfield Housing Agency ($1.5m), Brookwood Florida Inc ($1.5m) and Pittsburgh Housing Development Corporation ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. At year end it held assets of $4.8m against liabilities of $8.2m, net assets of -$3.3m.