Nelson Luquer Housing Development Fund Corporation

Analysis

Nelson Luquer Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in November 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Nelson Luquer Housing Development Fund Corporation reported income of $435k and spending of $588k, spending 135% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $420k to $435k (+3.4%), an average of +0.8% a year. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Nelson Luquer Housing Development Fund Corporation sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 64th percentile within NY. Charities of a similar size with the same main cause include Harmony Village Senior Nonprofit Housing Corporation ($435k), Envision Communities Inc ($435k) and Los Sures 101 S 3rd Housing Development Fund Corporation ($434k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $57k. At year end it held assets of $2.6m against liabilities of $3.8m, net assets of -$1.2m.

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.