Esther Gitlow Towers II Housing Development Fund Corp

Analysis

Esther Gitlow Towers II Housing Development Fund Corp is a registered charity in United States, based in Suffern, NY. It received its IRS tax-exemption ruling in November 2005, 21 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 2024, Esther Gitlow Towers II Housing Development Fund Corp reported income of $769k and spending of $1.2m, spending 152% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $747k to $769k (+3.0%), an average of +0.7% a year. Over the whole period it spent 141% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Esther Gitlow Towers II Housing Development Fund Corp sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Everybodys Place of Galveston County ($769k), Venable Apartments II Inc ($770k) and My Brothers Keeper ($769k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 66% and program service revenue 34% of the total. Other salaries and wages came to $302k. At year end it held assets of $9.7m against liabilities of $12.4m, net assets of -$2.7m. It reported 4 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.