Penwal Affordable Housing Corporation

Analysis

Penwal Affordable Housing Corporation is a registered charity in United States, based in Ridgewood, NJ. It received its IRS tax-exemption ruling in September 1992, 34 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, Penwal Affordable Housing Corporation reported income of $1.0m and spending of $308k, leaving 69% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $753k to $1.0m (+33%), an average of +7.5% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 22% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Penwal Affordable Housing Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within NJ. Charities of a similar size with the same main cause include Kankakee County Housing Developmentcorporation NFP ($1.0m), West Apartments Inc ($1.0m) and Pineridge Brook Corp ($1.0m).

At year end it held assets of $17.6m against liabilities of $17k, net assets of $17.6m.