Herkimer Affordable Housing Inc

Analysis

Herkimer Affordable Housing Inc is a registered charity in United States, based in Herkimer, NY. It received its IRS tax-exemption ruling in June 2018, 8 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 December 2023, Herkimer Affordable Housing Inc reported income of $379k and spending of $472k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $264k to $379k (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2022, when income rose by 899%. Over the whole period it spent 34% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Herkimer Affordable Housing Inc 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 Ahepa 310-Xi Inc ($379k), Community Development Alternatives Inc ($379k) and L E R Housing Development Fund Corporation ($379k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. At year end it held assets of $5.8m against liabilities of $1.3m, net assets of $4.5m.