Restoring Communities Housing Development Fund Corporation

Analysis

Restoring Communities Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2013, 13 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Restoring Communities Housing Development Fund Corporation reported income of $682k and spending of $924k, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $550k to $682k (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2022, when income rose by 792%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Restoring Communities Housing Development Fund Corporation sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Odenton Senior Housing II Inc ($682k), Jefferson Street Senior Housing Corporation ($683k) and Peninsula Housing Development Inc X ($682k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $852k against liabilities of $63k, net assets of $789k.