358-74 Vernon Avenue Housing Development Fund Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 682,872 | 895,325 | −212,453 | -37.0 | 14% |
| 2021 | 681,117 | 896,000 | −214,883 | -39.8 | 14% |
| 2022 | 655,537 | 865,820 | −210,283 | -44.2 | 14% |
| 2023 | 663,806 | 943,519 | −279,713 | -44.1 | 13% |
In its most recent public year (2023), this organization spent $279,713 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-44.1 months), down from -37 in 2020. Staff pay was 13% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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