Chenango Housing Development Fund Corporation

Analysis

Chenango Housing Development Fund Corporation is a registered charity in United States, based in Norwich, NY. It received its IRS tax-exemption ruling in July 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, Chenango Housing Development Fund Corporation reported income of $241k and spending of $269k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $234k to $241k (+3.1%), an average of +0.8% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Chenango Housing Development Fund Corporation sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 55th percentile within NY. Charities of a similar size with the same main cause include Crossroads Village Mutual Housing Association ($241k), Edgecomb Woods ($241k) and Nina Willingham Senior Housing Inc ($241k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 73% of the total. Other salaries and wages came to $21k. At year end it held assets of $470k against liabilities of $1.2m, net assets of -$729k.

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.