PHIPPS HOUSES
NEW YORK, NY 10010 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $110,928,466 | $18,959,721 | $972,139,840 |
| FY2023 | $87,375,863 | $18,319,961 | $834,371,884 |
| FY2022 | $101,156,342 | $21,095,910 | $788,943,583 |
| FY2021 | $88,001,578 | $21,514,926 | $709,060,876 |
| FY2020 | $79,703,796 | $19,582,333 | $637,706,906 |
| FY2019 | $29,064,866 | $13,906,466 | $489,705,595 |
| FY2018 | $46,318,158 | $13,328,505 | $474,838,499 |
| FY2017 | $53,548,072 | $16,225,074 | $474,937,800 |
| FY2016 | $181,779,157 | $12,043,928 | $410,727,264 |
| FY2015 | $55,352,818 | $12,280,431 | $232,982,798 |
| FY2014 | $39,621,152 | $11,330,481 | $194,560,480 |
| FY2013 | $62,609,208 | $10,554,811 | $187,270,590 |
| FY2012 | $30,432,328 | $9,948,022 | $126,256,729 |
| FY2011 | $27,092,214 | $9,851,234 | $106,026,176 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $25,294,386 | 38% |
| Program service revenue | $41,286,080 | 62% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $8,535,357 | 45% |
| Management & general | $10,424,364 | 55% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 62% of total revenue in FY2024.
- Program services accounted for 45% of functional expenses, management & general 55%, and fundraising 0%.
- 45% of functional expenses went to program services in FY2024. That is higher than 4.4% of 91 Housing & Shelter organizations in NY.
- Net assets covered about 615.3 months of expenses at the end of the reporting year. That puts it in the 96th percentile among 1353 Housing & Shelter organizations in NY.
- Total revenue was higher than 99.8% of 1457 Housing & Shelter organizations in NY.
- Total revenue rose from $27,092,214 in FY2011 to $110,928,466 in FY2024, Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2011 to FY2024.
- The highest revenue on record here is $181,779,157 in FY2016.
- Net assets grew from $106,026,176 to $972,139,840 between FY2011 and FY2024.
- Contributions and grants made up 7% of revenue in FY2011 and 23% in FY2024.
- Donations are generally tax-deductible (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
TO PROVIDE, PROMOTE AND DEVELOP AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME RESIDENTS.
IRS status
| Ruling year | 1948 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | L20 — Housing & Shelter |
| Donations | Donations are generally tax-deductible (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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