Mhany 2004 Housing Development Fund Corporation

Analysis

Mhany 2004 Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 2004, 22 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, Mhany 2004 Housing Development Fund Corporation reported income of $1.7m and spending of $2.2m, spending 130% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income grew from $1.6m to $1.7m (+6.3%), an average of +1.2% a year. The sharpest change came in the year to December 2020, when income rose by 89%. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mhany 2004 Housing Development Fund Corporation 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 Amherst Towne Senior Apartments Inc ($1.7m), Pinellas Affordable Living Inc ($1.7m) and Our Lady of Guadalupe ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $12.6m against liabilities of $15.3m, net assets of -$2.7m.

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.