Lancaster Housing Development Fund Company Inc

Analysis

Lancaster Housing Development Fund Company Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in September 1987, 39 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, Lancaster Housing Development Fund Company Inc reported income of $314k and spending of $339k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $315k to $314k (-0.3%), an average of -0.1% a year. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lancaster Housing Development Fund Company Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 59th percentile within NY. Charities of a similar size with the same main cause include Sunray Communities Inc ($313k), Avenue Plaza Affordable Housing Inc ($314k) and Wakefield Senior Housing Corp ($313k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $65k. At year end it held assets of $1.0m against liabilities of $2.5m, net assets of -$1.5m.

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.