Center Housing Development Fund Corporation III

Analysis

Center Housing Development Fund Corporation III is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in August 2004, 22 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, Center Housing Development Fund Corporation III reported income of $62k and spending of $88k, spending 143% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $53k to $62k (+15%), an average of +2.9% a year. The sharpest change came in the year to December 2022, when income rose by 137%. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Center Housing Development Fund Corporation III sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within NY. Charities of a similar size with the same main cause include Community Concepts Inc ($62k), National Union Senior Citizens Housing II Inc ($62k) and Sutton Senior Annex Inc ($61k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $335 (0.4% of expenses). Other salaries and wages came to $9,082. At year end it held assets of $281k against liabilities of $86k, net assets of $195k.

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.