Steger Housing Development Fund Company Inc

Analysis

Steger Housing Development Fund Company Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 September 2023, Steger Housing Development Fund Company Inc reported income of $392k and spending of $403k, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $382k to $392k (+2.6%), an average of +0.6% a year. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Steger Housing Development Fund Company Inc sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include San Juan Islands Shuttle System ($392k), National Church Residences of Salem Oh ($392k) and Inspiring Purpose Day Program Inc ($392k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 43% and program service revenue 56% of the total. Other salaries and wages came to $98k. At year end it held assets of $727k against liabilities of $3.4m, net assets of -$2.7m. It reported 5 employees.

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.