Housing Works Lyman Prospect Housing Development Fund Corporati

Analysis

Housing Works Lyman Prospect Housing Development Fund Corporati is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 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 June 2023, Housing Works Lyman Prospect Housing Development Fund Corporati reported income of $302k and spending of $537k, spending 178% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $366k to $302k (-17%), an average of -4.6% a year. The sharpest change came in the year to June 2022, when income rose by 61%. Over the whole period it spent 173% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Works Lyman Prospect Housing Development Fund Corporati 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 59th percentile within NY. Charities of a similar size with the same main cause include 280 East 166th Street Housing Development Fund Corp ($302k), Vista Affordable Housing Inc ($303k) and RVM Reedsport Housing Corporation ($302k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $581k against liabilities of $2.3m, net assets of -$1.7m.

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.