Massachusetts Avenue Housing Development Fund Corporation

Analysis

Massachusetts Avenue Housing Development Fund Corporation is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in May 2013, 13 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Massachusetts Avenue Housing Development Fund Corporation reported income of $82k and spending of $130k, spending 160% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $69k to $82k (+19%), an average of +4.5% a year. The sharpest change came in the year to December 2022, when income rose by 53%. Over the whole period it spent 152% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Massachusetts Avenue Housing Development Fund Corporation sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 32nd percentile within NY. Charities of a similar size with the same main cause include Galena Park Terrace ($82k), Homme Apartments Inc ($82k) and Dima V Inc ($82k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. At year end it held assets of $1.6m against liabilities of $1.4m, net assets of $186k.

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.