HG Holding Housing Development Fund Company Inc

Analysis

HG Holding Housing Development Fund Company Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in July 2015, 11 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 March 2024, HG Holding Housing Development Fund Company Inc reported income of $358k and spending of $551k, spending 154% of what it took in. Across the 6 years on record, from March 2019 to March 2024, income grew from $305k to $358k (+17%), an average of +3.2% a year. Over the whole period it spent 159% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, HG Holding Housing Development Fund Company Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 61st percentile within NY. Charities of a similar size with the same main cause include Main Street Apartments Inc ($357k), Mountain Terrace Inc ($358k) and Mercy House Ministries Inc ($357k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $6.0m against liabilities of $5.3m, net assets of $710k.

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.