Seaview Senior Living Housing Development Fund Corporation

Analysis

Seaview Senior Living Housing Development Fund Corporation is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in September 2011, 15 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Seaview Senior Living Housing Development Fund Corporation reported income of $10.3m and spending of $15.5m, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.4m to $10.3m (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2020, when income rose by 92%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Seaview Senior Living Housing Development Fund Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Reach Riverside Development Corporation ($10.3m), Lifting Up Westchester Inc ($10.3m) and Habitat for Humanity International Inc ($10.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $60k (0.4% of expenses). At year end it held assets of $61.7m against liabilities of $97.2m, net assets of -$35.5m.

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.