Community Development Corporation of Boston Inc

Analysis

Community Development Corporation of Boston Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 1973, 53 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Community Development Corporation of Boston Inc reported income of $3.6m and spending of $400k, leaving 89% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $259k to $3.6m (+1272%), an average of +92% a year. The sharpest change came in the year to July 2022, when income dropped by 100%. Over the whole period it spent 36% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Community Development Corporation of Boston Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include Community Link Programs of Traveler Aid Society of Central Carolinas I ($3.6m), New Jersey Citizen Action Education Fund Inc ($3.6m) and United Way of Central Virginia Inc ($3.5m).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $85k (21% of expenses). Other salaries and wages came to $35k. At year end it held assets of $6.9m against liabilities of $1.4m, net assets of $5.5m. It reported 2 employees.