Gates Plaza Housing Development Fund Company Inc

Analysis

Gates Plaza Housing Development Fund Company Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2006, 20 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, Gates Plaza Housing Development Fund Company Inc reported income of $1.1m and spending of $1.5m, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.1m (+4.9%), an average of +1.2% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gates Plaza Housing Development Fund Company Inc 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 77th percentile within NY. Charities of a similar size with the same main cause include Telacu Senior Housing of Los Angeles County ($1.1m), Hhoc Mortgage ($1.1m) and Neighborhood Housing Services of the Black Hills ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 27% of the total. At year end it held assets of $8.6m against liabilities of $12.1m, net assets of -$3.6m.

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.