Senior Citizens Housing Development Fund Corporation of Steuben County

Analysis

Senior Citizens Housing Development Fund Corporation of Steuben County is a registered charity in United States, based in Bath, NY. It received its IRS tax-exemption ruling in June 1980, 46 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 March 2024, Senior Citizens Housing Development Fund Corporation of Steuben County reported income of $1.7m and spending of $1.7m, spending 102% of its income. Across the 6 years on record, from March 2019 to March 2024, income grew from $1.5m to $1.7m (+12%), an average of +2.3% a year. 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, Senior Citizens Housing Development Fund Corporation of Steuben County sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Housing Fund for Linn County ($1.7m), Xavier Mission Inc ($1.7m) and Life Plan Humboldt Dba Life Care Humboldt ($1.7m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Other salaries and wages came to $295k. At year end it held assets of $3.7m against liabilities of $6.3m, net assets of -$2.7m. It reported 7 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.