Norfolk Housing Development Fund Company Inc

Analysis

Norfolk Housing Development Fund Company Inc is a registered charity in United States, based in Norfolk, NY. It received its IRS tax-exemption ruling in October 1990, 36 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 December 2023, Norfolk Housing Development Fund Company Inc reported income of $216k and spending of $180k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $164k to $216k (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Norfolk Housing Development Fund Company Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NY. Charities of a similar size with the same main cause include USA Housing Inc ($216k), Collective Chicago ($216k) and Renaissance Court Inc ($216k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $38k (21% of expenses). At year end it held assets of $445k against liabilities of $827k, net assets of -$382k. It reported 1 employees.