Grasse River Housing Corporation

Analysis

Grasse River Housing Corporation is a registered charity in United States, based in Madrid, NY. It received its IRS tax-exemption ruling in July 1979, 47 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 June 2023, Grasse River Housing Corporation reported income of $69k and spending of $70k, spending 101% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $67k to $69k (+3.0%), an average of +3.0% a year. 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, Grasse River Housing Corporation sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include Coleman Apartments ($69k), Hotels for Hope Inc ($69k) and Multifamily Affordable Properties ($69k).

On its Form 990-EZ for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $240k against liabilities of $5,177, net assets of $235k.