Erie Regional Housing Development Corp

Analysis

Erie Regional Housing Development Corp is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in August 1999, 27 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 June 2023, Erie Regional Housing Development Corp reported income of $1.7m and spending of $1.6m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.9m to $1.7m (-13%), an average of -3.3% a year. The sharpest change came in the year to June 2020, when income dropped by 27%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Erie Regional Housing Development Corp sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include David Jones Jr Assisted Living Center Inc ($1.7m), Trustees of the Young Womans Christian Home ($1.7m) and Casper Housing Authority Cares ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $138k (8.7% of expenses). Other salaries and wages came to $807k. At year end it held assets of $1.7m against liabilities of $74k, net assets of $1.6m. It reported 76 employees.