209 South 2nd Street Housing Development Fund Corporation

Analysis

209 South 2nd Street Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 2015, 11 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, 209 South 2nd Street Housing Development Fund Corporation reported income of $581k and spending of $695k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $558k to $581k (+4.2%), an average of +1.0% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 209 South 2nd Street Housing Development Fund Corporation sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include RGV Inclusive Project Inc ($581k), D L H Low-Income Housing Inc ($581k) and Gratiot Woods Non-Profit Housing Corp ($581k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 87% of the total. At year end it held assets of $4.6m against liabilities of $5.3m, net assets of -$682k.

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.