WS Housing Development Fund Company Inc

Analysis

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

In the financial year ending September 2023, WS Housing Development Fund Company Inc reported income of $307k and spending of $419k, spending 136% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $297k to $307k (+3.4%), an average of +0.8% a year. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, WS Housing Development Fund Company Inc sits at the 47th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within NY. Charities of a similar size with the same main cause include Martin Luther King Housing Development Association ($307k), Rise El Dorado ($307k) and Neighborhood Housing Services of Jamaica Inc ($307k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $87k. At year end it held assets of $2.5m against liabilities of $4.0m, net assets of -$1.5m.

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.