Council Towers V Housingdevelopment Fund Corporation

Analysis

Council Towers V Housingdevelopment Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2007, 19 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, Council Towers V Housingdevelopment Fund Corporation reported income of $796k and spending of $1.5m, spending 193% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $793k to $796k (+0.4%), an average of +0.1% a year. Over the whole period it spent 186% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Council Towers V Housingdevelopment Fund Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Van Buren Apartments Inc ($796k), Maynard Road Corporation ($796k) and Habitat for Humanity International Inc ($796k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 94% of the total. At year end it held assets of $11.0m against liabilities of $16.5m, net assets of -$5.5m.

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.