New Milford Affordable Housing Inc

Analysis

New Milford Affordable Housing Inc is a registered charity in United States, based in New Milford, CT. It received its IRS tax-exemption ruling in July 1992, 34 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Milford Affordable Housing Inc reported income of $308k and spending of $339k, spending 110% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $226k to $308k (+36%), an average of +8.1% a year. The sharpest change came in the year to June 2023, when income rose by 91%. Over the whole period it spent 136% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Milford Affordable Housing Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within CT. Charities of a similar size with the same main cause include Immerman Foundation ($308k), The Chinese International School Foundation ($308k) and Upper Peninsula Honor Flight ($308k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.9% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $64k (19% of expenses). At year end it held assets of $5.3m against liabilities of $3.0m, net assets of $2.3m. It reported 1 employees.

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.