Housing Development Corporation of Bergen County

Analysis

Housing Development Corporation of Bergen County is a registered charity in United States, based in Hackensack, NJ. It received its IRS tax-exemption ruling in July 1979, 47 years ago. 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 March 2023, Housing Development Corporation of Bergen County reported income of $6.7m and spending of $6.1m, spending 91% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $4.8m to $6.7m (+39%), an average of +8.6% a year. The sharpest change came in the year to March 2020, when income rose by 26%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Housing Development Corporation of Bergen County sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Legal Aid Society Inc ($6.7m), Vital Ground Foundation Inc ($6.7m) and Society for Christian Instruction ($6.7m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 43% and program service revenue 55% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $45.4m against liabilities of $10.8m, net assets of $34.6m. It reported 1 employees.