Providence-Brown Street Housing Development Fund Corporation

Analysis

Providence-Brown Street Housing Development Fund Corporation is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in March 2024, 2 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, Providence-Brown Street Housing Development Fund Corporation reported income of $137k and spending of $214k, spending 156% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $70k to $137k (+96%), an average of +40% a year. The sharpest change came in the year to December 2022, when income rose by 77%. Over the whole period it spent 154% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Providence-Brown Street Housing Development Fund Corporation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within NY. Charities of a similar size with the same main cause include Dutchess Community Living Corporati on ($137k), Essex Community Land Trust Inc ($137k) and Mid Peninsula Murphys Inc ($137k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 92% of the total. At year end it held assets of $494k against liabilities of $1.3m, net assets of -$833k.

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.