Alloway Housing Development Fund Corporation

Analysis

Alloway Housing Development Fund Corporation is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in April 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Alloway Housing Development Fund Corporation reported income of $169k and spending of $274k, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $152k to $169k (+11%), an average of +2.6% a year. Over the whole period it spent 145% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Alloway Housing Development Fund Corporation sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Birch Leaf Apartments Inc ($169k), Residential Opportunities Incorporated ($169k) and Edwards Association Senior Housing ($169k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $1.7m against liabilities of $2.6m, net assets of -$958k.

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.