LA Casa de Felicidad Housing Development Fund Corporation

Analysis

LA Casa de Felicidad Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 2002, 24 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 June 2023, LA Casa de Felicidad Housing Development Fund Corporation reported income of $1.4m and spending of $1.9m, spending 139% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $774k to $1.4m (+79%), an average of +16% a year. The sharpest change came in the year to June 2023, when income rose by 41%. Over the whole period it spent 150% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, LA Casa de Felicidad Housing Development Fund Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Diamond View Residents Association Inc ($1.4m), The Russell House Inc ($1.4m) and Haywood Pathways Center ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $205k. At year end it held assets of $5.7m against liabilities of $12.0m, net assets of -$6.4m. It reported 2 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.