Lackawanna Housing Development Corporation

Analysis

Lackawanna Housing Development Corporation is a registered charity in United States, based in Lackawanna, NY. It received its IRS tax-exemption ruling in September 1991, 35 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 June 2023, Lackawanna Housing Development Corporation reported income of $326k and spending of $317k, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $319k to $326k (+2.0%), an average of +0.7% a year. The sharpest change came in the year to June 2022, when income rose by 33%. 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, Lackawanna Housing Development Corporation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Walnut Village Inc ($325k), Charles O Miles Senior Non Profit Housing Corporation ($326k) and Mercy Bond Properties Nebraska I ($325k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 22% of the total. Other salaries and wages came to $71k. At year end it held assets of $1.0m against liabilities of $977k, net assets of $46k. It reported 4 employees.