Restored Homes Housing Development Fund Corporation

Analysis

Restored Homes Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 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, Restored Homes Housing Development Fund Corporation reported income of $1.4m and spending of $1.1m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.4m (+1.9%), an average of +0.5% a year. The sharpest change came in the year to December 2022, when income rose by 159%. Over the whole period it spent 146% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Restored Homes Housing Development Fund Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Medina Creative Housing Inc ($1.4m), Saint Cecilias House Inc ($1.4m) and Asbury Arms Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 66% of the total. At year end it held assets of $19.1m against liabilities of $21.1m, net assets of -$2.0m.