Mhany Mother Gaston Housing Development Fund Corporation

Analysis

Mhany Mother Gaston Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 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, Mhany Mother Gaston Housing Development Fund Corporation reported income of $499k and spending of $656k, spending 132% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $344k to $499k (+45%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 67%. Over the whole period it spent 164% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mhany Mother Gaston Housing Development Fund Corporation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Hoosier Valley Housing Corporation ($498k), Ehdoc Shaker Blvd Inc ($499k) and St Paul Church of God in Christ Community Development Ministries ($498k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 92% of the total. At year end it held assets of $3.4m against liabilities of $3.5m, net assets of -$198k.

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.