72 Lewis Avenue Apartments Housing Development Fund Corporation

Analysis

72 Lewis Avenue Apartments Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending June 2023, 72 Lewis Avenue Apartments Housing Development Fund Corporation reported income of $393k and spending of $531k, spending 135% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $488k to $393k (-19%), an average of -7.0% a year. The sharpest change came in the year to June 2021, when income dropped by 19%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, 72 Lewis Avenue Apartments Housing Development Fund Corporation sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Stokes County Arts Council Inc ($393k), Northshore Memorial Scholarship Foundation ($393k) and Phillip WM Fisher Support Foundation ($393k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $1.4m against liabilities of $4.2m, net assets of -$2.7m.