Soundview Senior Housing Development Fund Company Inc

Analysis

Soundview Senior Housing Development Fund Company Inc is a registered charity in United States, based in Jamaica, NY. It received its IRS tax-exemption ruling in September 2022, 4 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, Soundview Senior Housing Development Fund Company Inc reported income of $1.1m and spending of $1.5m, spending 138% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $1.7m to $1.1m (-35%), an average of -20% a year. The sharpest change came in the year to December 2023, when income dropped by 36%. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Soundview Senior Housing Development Fund Company Inc 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 Chicago Rehabilitation Network ($1.1m), Zaban Paradies Center for Homeless Couples Inc ($1.1m) and Southeast Technical Institute Housing Foundation ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 27% of the total. At year end it held assets of $11.7m against liabilities of $14.4m, net assets of -$2.6m.