Breaking Ground III Housing Development Fund Corporation

Analysis

Breaking Ground III Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 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 (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, Breaking Ground III Housing Development Fund Corporation reported income of $361k and spending of $359k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $287k to $361k (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2022, when income rose by 15%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Breaking Ground III Housing Development Fund Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 61st percentile within NY. Charities of a similar size with the same main cause include Chelsea Restoration Corporation ($361k), Gardella Plaza Inc ($361k) and Family Promise of Butler County ($361k).

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 $102k. At year end it held assets of $1.1m against liabilities of $1.1m, net assets of -$57k.