Drake Manor Housing Development Fund Company Inc

Analysis

Drake Manor Housing Development Fund Company Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in May 1997, 29 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, Drake Manor Housing Development Fund Company Inc reported income of $159k and spending of $238k, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $157k to $159k (+1.1%), an average of +0.3% a year. The sharpest change came in the year to December 2022, when income rose by 47%. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Drake Manor Housing Development Fund Company Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include Good Shepherd Gardens Inc ($159k), Homes for the Exceptional V ($159k) and Lindley Homes ($159k).

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 $50k. At year end it held assets of $260k against liabilities of $29k, net assets of $232k. It reported 2 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.