Gregene HDFC

Analysis

Gregene HDFC is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2012, 14 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, Gregene HDFC reported income of $377k and spending of $471k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $369k to $377k (+2.0%), an average of +0.5% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gregene HDFC sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include St Paul Baptist Church Housing Development Corporation ($377k), Neighborhood Development Collaborative Inc ($377k) and Synergy Community Development Corporation ($376k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 95% of the total. Other salaries and wages came to $54k. At year end it held assets of $2.0m against liabilities of $2.8m, net assets of -$761k.

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.