90 Sands Housing Development Fund Corporation

Analysis

90 Sands Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2019, 7 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, 90 Sands Housing Development Fund Corporation reported income of $6.5m and spending of $13.7m, spending 211% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $645 to $6.5m (+1005524%), an average of +901% a year. The sharpest change came in the year to December 2023, when income rose by 493%. Over the whole period it spent 441% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 90 Sands Housing Development Fund Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Silvercrest Inc ($6.5m), Crown Court Properties Ltd ($6.5m) and Tent City Corporation ($6.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $249.5m against liabilities of $283.3m, net assets of -$33.8m.

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.