Silvercrest Senior Housing Development Fund

Analysis

Silvercrest Senior Housing Development Fund is a registered charity in United States, based in Briarwood, NY. It received its IRS tax-exemption ruling in February 2009, 17 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, Silvercrest Senior Housing Development Fund reported income of $862k and spending of $1.4m, spending 158% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $773k to $862k (+11%), an average of +2.8% a year. Over the whole period it spent 161% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Silvercrest Senior Housing Development Fund sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include Millbrook Homes Inc ($862k), Mongil Corporation ($862k) and Canton I Inc ($861k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 97% of the total. At year end it held assets of $13.7m against liabilities of $18.7m, net assets of -$5.0m.

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.