Nickel City Housing Corp

Analysis

Nickel City Housing Corp is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in January 2017, 9 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, Nickel City Housing Corp reported income of $131k and spending of $137k, spending 105% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $65k to $131k (+100%), an average of +42% a year. The sharpest change came in the year to December 2022, when income rose by 66%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Nickel City Housing Corp sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 42nd percentile within NY. Charities of a similar size with the same main cause include Pams Promise Transitional Housing Center Inc ($131k), Union Avenue Apartments Inc ($131k) and Gerald Countryside Manor ($131k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 100% of the total. At year end it held assets of $47k against liabilities of $30k, net assets of $17k.

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.