Bedford 203 Housing Development Fund Corporation

Analysis

Bedford 203 Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bedford 203 Housing Development Fund Corporation reported income of $1.4m and spending of $1.4m, spending 100% of its income. The sharpest change came in the year to December 2023, when income rose by 140%. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bedford 203 Housing Development Fund Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include New Community Hudson Senior Housing Corporation ($1.4m), Julie House Inc ($1.4m) and Interfaith Outreach Home Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $940k. At year end it held assets of $699k against liabilities of $1.1m, net assets of -$373k. It reported 17 employees.

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.