Encore West Residence Housing Development Fund Corporation

Analysis

Encore West Residence Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2003, 23 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, Encore West Residence Housing Development Fund Corporation reported income of $1.1m and spending of $1.6m, spending 147% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $841k to $1.1m (+29%), an average of +6.7% a year. The sharpest change came in the year to June 2022, when income rose by 49%. Over the whole period it spent 133% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Encore West Residence Housing Development Fund Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Consumer Law Building Corporation ($1.1m), Cayuga County Homsite Development Corp ($1.1m) and Santa Barbara Student Housing ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $77k. At year end it held assets of $9.4m against liabilities of $505k, net assets of $8.9m. It reported 2 employees.

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.