512 Lemoyne Avenue Housing Development Fund Co Inc

Analysis

512 Lemoyne Avenue Housing Development Fund Co Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in June 1991, 35 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, 512 Lemoyne Avenue Housing Development Fund Co Inc reported income of $240k and spending of $455k, spending 189% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $264k to $240k (-9.0%), an average of -2.3% a year. The sharpest change came in the year to December 2021, when income rose by 109%. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 512 Lemoyne Avenue Housing Development Fund Co Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within NY. Charities of a similar size with the same main cause include Casa de Palma Inc ($240k), Luther Manor Foundation ($241k) and Nna Fund ($240k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 90% of the total. Other salaries and wages came to $38k. At year end it held assets of $2.2m against liabilities of $5.8m, net assets of -$3.7m.