287 Housing Development Fund Corporation

Analysis

287 Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2014, 12 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, 287 Housing Development Fund Corporation reported income of $298k and spending of $377k, spending 127% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $279k to $298k (+6.8%), an average of +1.7% a year. Over the whole period it spent 131% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 287 Housing Development Fund Corporation sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Team Up with Families Inc ($298k), Huron Housing Corporation ($298k) and Wisconsin Business Innovation Corporation ($298k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $3.3m against liabilities of $3.9m, net assets of -$543k.

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.