Adirondack Housing Development Corporation

Analysis

Adirondack Housing Development Corporation is a registered charity in United States, based in Saranac Lake, NY. It received its IRS tax-exemption ruling in June 2010, 16 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, Adirondack Housing Development Corporation reported income of $127k and spending of $30k, leaving 77% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $48k to $127k (+166%), an average of +166% a year. The sharpest change came in the year to December 2023, when income rose by 166%. Over the whole period it spent 27% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Adirondack Housing Development Corporation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 42nd percentile within NY. Charities of a similar size with the same main cause include Aasc Housing I Inc ($127k), Caring Residential Services VIII Inc ($127k) and Blackstone United Methodist Housing Corporation ($127k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 5.4% and program service revenue 13% of the total. At year end it held assets of $159k against liabilities of $0, net assets of $159k.