Center Housing Development Fund Corporation

Analysis

Center Housing Development Fund Corporation is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in April 1998, 28 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, Center Housing Development Fund Corporation reported income of $180k and spending of $327k, spending 182% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $183k to $180k (-1.7%), an average of -0.3% a year. The sharpest change came in the year to December 2022, when income rose by 89%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Center Housing Development Fund Corporation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within NY. Charities of a similar size with the same main cause include Eddy Street Apartments ($180k), M H C Development Company Inc ($180k) and Community Housing Development Organization of Western Indiana in ($180k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1,008 (0.3% of expenses). Other salaries and wages came to $17k. At year end it held assets of $1.1m against liabilities of $328k, net assets of $754k.

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.