Townsend Home Housing Development Fund Company Inc

Analysis

Townsend Home Housing Development Fund Company Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in April 2016, 10 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, Townsend Home Housing Development Fund Company Inc reported income of $456k and spending of $523k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $360k to $456k (+27%), an average of +6.1% a year. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Townsend Home Housing Development Fund Company Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Episcopal Housing of Birmingham Inc ($456k), Gbha Properties 1 Inc ($456k) and Woods Senior Living Center Inc ($456k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 86% of the total. Other salaries and wages came to $42k. At year end it held assets of $4.5m against liabilities of $5.0m, net assets of -$533k. It reported 6 employees.

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.