Loretto-Malta Manor Housing Development Fund Company Inc

Analysis

Loretto-Malta Manor Housing Development Fund Company Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in March 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 December 2023, Loretto-Malta Manor Housing Development Fund Company Inc reported income of $317k and spending of $382k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $273k to $317k (+16%), an average of +3.8% a year. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Loretto-Malta Manor Housing Development Fund Company Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 59th percentile within NY. Charities of a similar size with the same main cause include Fair Housing Center of Northern Alabama ($317k), Pacific Housing Oahu Corporation Elderly Residence ($317k) and Zakiyah House Housing ($317k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $37k. At year end it held assets of $1.7m against liabilities of $47k, net assets of $1.7m.

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.