E Reyes Apartments Housing Development Fund Corporation

Analysis

E Reyes Apartments Housing Development Fund Corporation 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, E Reyes Apartments Housing Development Fund Corporation reported income of $1.1m and spending of $818k, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $678k to $1.1m (+65%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 51%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, E Reyes Apartments Housing Development Fund Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Lewistown Area Community Development Corporation ($1.1m), High Spirit Community Farm Inc ($1.1m) and Sarasota Housing Funding Corporation ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 56% of the total. At year end it held assets of $2.7m against liabilities of $3.1m, net assets of -$437k.