Mt Sinai Housing Development Corporation II

Analysis

Mt Sinai Housing Development Corporation II is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in June 1997, 29 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, Mt Sinai Housing Development Corporation II reported income of $514k and spending of $763k, spending 149% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $437k to $514k (+18%), an average of +4.1% a year. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mt Sinai Housing Development Corporation II sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within LA. Charities of a similar size with the same main cause include Scotland Community Development Inc ($513k), Avenida Guadalupe Development Inc ($514k) and SNHS Elderly Housing III Inc ($513k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $90k. At year end it held assets of $3.5m against liabilities of $4.4m, net assets of -$900k. It reported 3 employees.