409 Grand Avenue Housing Development Fund Corporation

Analysis

409 Grand Avenue Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 2021, 5 years ago. 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 June 2023, 409 Grand Avenue Housing Development Fund Corporation reported income of $69k and spending of $106k, spending 155% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $45k to $69k (+53%), an average of +53% a year. The sharpest change came in the year to June 2023, when income rose by 53%. Over the whole period it spent 158% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, 409 Grand Avenue Housing Development Fund Corporation sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include Heart and Hand Society Inc ($69k), Montana 4-H Foundation Inc ($69k) and El Dorado Service League Inc ($69k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $541k against liabilities of $1.1m, net assets of -$530k.