Woodstock Housing Development Fund Corporation for Senior Citizens

Analysis

Woodstock Housing Development Fund Corporation for Senior Citizens is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 1975, 51 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 December 2023, Woodstock Housing Development Fund Corporation for Senior Citizens reported income of $4.9m and spending of $4.6m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.4m to $4.9m (+44%), an average of +9.6% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Woodstock Housing Development Fund Corporation for Senior Citizens sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Rufino Contreras Affordable Housing Corporation Inc ($4.9m), Winthrop University Real Estate Foundation Inc ($4.9m) and Promise House Inc ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $56k (1.2% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $15.9m against liabilities of $17.5m, net assets of -$1.5m. It reported 28 employees.