Gibb Mansion Housing Development Fund Corporation

Analysis

Gibb Mansion Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2022, 4 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 June 2023, Gibb Mansion Housing Development Fund Corporation reported income of $1.0m and spending of $1.4m, spending 131% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $587k to $1.0m (+79%), an average of +79% a year. The sharpest change came in the year to June 2023, when income rose by 79%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gibb Mansion Housing Development Fund Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Yes Housing of Arizona Inc ($1.0m), Surge Recovery Inc ($1.0m) and Housing Help Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 95% of the total. At year end it held assets of $9.1m against liabilities of $10.2m, net assets of -$1.1m.