Neighborhood Renewal Housing Development Fund Corporation

Analysis

Neighborhood Renewal Housing Development Fund Corporation is a registered charity in United States, based in Jamaica, NY. It received its IRS tax-exemption ruling in January 2021, 5 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Neighborhood Renewal Housing Development Fund Corporation reported income of $568k and spending of $4.3m, spending 761% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.4m to $568k (-83%), an average of -36% a year. The sharpest change came in the year to December 2021, when income rose by 202%. Over the whole period it spent 156% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Neighborhood Renewal Housing Development Fund Corporation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Grace Congregate Housing Corporation ($568k), Advantage Housing Inc ($568k) and Odessa Methodist Housing Inc ($568k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 28% of the total. At year end it held assets of $225.6m against liabilities of $232.9m, net assets of -$7.3m.

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.