McGraw Housing Company Inc

Analysis

McGraw Housing Company Inc is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in November 1971, 55 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 March 2024, McGraw Housing Company Inc reported income of $984k and spending of $1.2m, spending 121% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $925k to $984k (+6.4%), an average of +1.6% a year. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, McGraw Housing Company Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include DGN III Inc ($984k), Chateau Cushnoc Inc ($985k) and Abundant Housing LA Education Fund ($984k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 5.2% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $85k (7.1% of expenses). Other salaries and wages came to $356k. At year end it held assets of $5.3m against liabilities of $6.0m, net assets of -$695k. It reported 23 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.