Edgewater Housing Finance Corporation

Analysis

Edgewater Housing Finance Corporation is a registered charity in United States, based in Edgewater, NJ. It received its IRS tax-exemption ruling in August 1989, 37 years ago. 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, Edgewater Housing Finance Corporation reported income of $425k and spending of $458k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $358k to $425k (+19%), an average of +4.4% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Edgewater Housing Finance Corporation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 73rd percentile within NJ. Charities of a similar size with the same main cause include Recycling Works ($425k), Bowen Family Foundation ($426k) and Summit Educational Association Inc ($425k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $46k. At year end it held assets of $2.5m against liabilities of $2.0m, net assets of $518k.

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.