Rodney Driggs and South Third Street Housing Development Fund

Analysis

Rodney Driggs and South Third Street Housing Development Fund is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2014, 12 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, Rodney Driggs and South Third Street Housing Development Fund reported income of $735k and spending of $1.0m, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $735k (-36%), an average of -10% a year. The sharpest change came in the year to December 2020, when income dropped by 39%. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rodney Driggs and South Third Street Housing Development Fund sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Denton Housing Development Corporation ($735k), Inner City Night Shelter Inc ($736k) and Colony House Non-Profit Housing Corp ($735k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 95% of the total. At year end it held assets of $2.5m against liabilities of $5.0m, net assets of -$2.5m.

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.