Palatine Manor Housing Development Fund Corp

Analysis

Palatine Manor Housing Development Fund Corp is a registered charity in United States, based in Germantown, NY. It received its IRS tax-exemption ruling in January 1998, 28 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, Palatine Manor Housing Development Fund Corp reported income of $533k and spending of $624k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $423k to $533k (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palatine Manor Housing Development Fund Corp sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within NY. Charities of a similar size with the same main cause include Shelbyville Inc ($533k), Tiny Pine Foundation ($534k) and Casitas of Hayward Inc ($533k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 49% of the total. At year end it held assets of $803k against liabilities of $3.6m, net assets of -$2.8m.

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.