Reside Affordable Inc

Analysis

Reside Affordable Inc 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 December 2023, Reside Affordable Inc reported income of $284k and spending of $215k, leaving 24% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $228k to $284k (+24%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 24%. Over the whole period it spent 86% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Reside Affordable Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Martin Luther Homes for the Handicapped Inc ($284k), Whitfield Place Inc ($284k) and Maywood Margery Daw Day Care Center ($283k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $47k. At year end it held assets of $285k against liabilities of $303k, net assets of -$18k. It reported 1 employees.