Gerard Place Housing Development Fund Company Inc

Analysis

Gerard Place Housing Development Fund Company Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in December 2012, 14 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, Gerard Place Housing Development Fund Company Inc reported income of $2.1m and spending of $2.0m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.1m (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gerard Place Housing Development Fund Company Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Main Street Baptist Church Manor Inc ($2.1m), Pro Viviendas I Inc ($2.1m) and Core Community Partners ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $367k (19% of expenses). Other salaries and wages came to $664k. At year end it held assets of $6.9m against liabilities of $174k, net assets of $6.7m. It reported 22 employees.