Covenant Housing Corp of Central New York

Analysis

Covenant Housing Corp of Central New York is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in June 1993, 33 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Covenant Housing Corp of Central New York reported income of $1.1m and spending of $1.1m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $743k to $1.1m (+52%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 76%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Covenant Housing Corp of Central New York sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include The Dragonfly Home Inc ($1.1m), Big Brothers Big Sisters of Northeast Wisconsin Inc ($1.1m) and Cairnwood Village Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $41k (3.8% of expenses). Other salaries and wages came to $125k. At year end it held assets of $2.4m against liabilities of $808k, net assets of $1.6m. It reported 4 employees.