Adirondack Housing Development Fund Co Inc

Analysis

Adirondack Housing Development Fund Co Inc is a registered charity in United States, based in Ellenburg Center, NY. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Adirondack Housing Development Fund Co Inc reported income of $80k and spending of $109k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $74k to $80k (+7.5%), an average of +1.8% a year. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Adirondack Housing Development Fund Co Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 31st percentile within NY. Charities of a similar size with the same main cause include Twin Brooks Apartments Inc ($80k), Delia Foundation ($80k) and American Sunrise-A Nonprofit Community Builder ($80k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.9% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $12k (11% of expenses). Other salaries and wages came to $3,692. At year end it held assets of $308k against liabilities of $12k, net assets of $296k. 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.