Steger II Housing Development Fund Company Inc

Analysis

Steger II Housing Development Fund Company Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in September 2003, 23 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 June 2024, Steger II Housing Development Fund Company Inc reported income of $323k and spending of $463k, spending 143% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $294k to $323k (+10.0%), an average of +2.4% a year. Over the whole period it spent 141% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Steger II Housing Development Fund Company Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Mason County Housing Options for Students in Transition ($323k), Lorenzo Farm Housing Association Inc ($323k) and Shadetree Historical Artisan Development Engine ($323k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 52% and program service revenue 47% of the total. Other salaries and wages came to $88k. At year end it held assets of $1.3m against liabilities of $3.7m, net assets of -$2.4m.

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.