Varick Homes Housing Dev Fund Inc

Analysis

Varick Homes Housing Dev Fund Inc is a registered charity in United States, based in Newburgh, NY. It received its IRS tax-exemption ruling in July 2004, 22 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 February 2023, Varick Homes Housing Dev Fund Inc reported income of $2.0m and spending of $2.4m, spending 121% of what it took in. Across the 4 years on record, from February 2020 to February 2023, income grew from $1.9m to $2.0m (+6.8%), an average of +2.2% a year. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Varick Homes Housing Dev Fund Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Housing Management & Development Corp ($2.0m), Josephs House of Camden ($2.0m) and San Antonio Alternative Housing Corporation ($2.0m).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 55% and program service revenue 43% of the total. At year end it held assets of $4.8m against liabilities of $400k, net assets of $4.4m.