Village Housing Development Corp

Analysis

Village Housing Development Corp is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1999, 27 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, Village Housing Development Corp reported income of $5.9m and spending of $5.8m, spending 100% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $4.3m to $5.9m (+37%), an average of +6.5% a year. The sharpest change came in the year to December 2019, when income rose by 48%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Village Housing Development Corp sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include McIntosh Senior Living ($5.9m), Neighbors of Watertown Inc ($5.9m) and Aldersgate Life Plan Services Inc ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $363k (6.2% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $9.0m against liabilities of $11.0m, net assets of -$2.1m. It reported 38 employees.