607 Concord Avenue Housing Development Fund Corporation

Analysis

607 Concord Avenue Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in December 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 November 2023, 607 Concord Avenue Housing Development Fund Corporation reported income of $1.5m and spending of $1.2m, leaving 21% of income unspent that year. Across the 5 years on record, from November 2019 to November 2023, income grew from $851k to $1.5m (+74%), an average of +15% a year. The sharpest change came in the year to November 2023, when income rose by 34%. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 607 Concord Avenue Housing Development Fund Corporation 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 Community Housing Coalition of Madison County Inc ($1.5m), Thomas Campbell Apartments Inc ($1.5m) and Murphy Senior Living Inc ($1.5m).

On its Form 990 for the period ending November 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $110k. At year end it held assets of $3.4m against liabilities of $9.2m, net assets of -$5.8m. It reported 1 employees.