Worcester East Side Community Development Corporation

Analysis

Worcester East Side Community Development Corporation is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in February 1996, 30 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Worcester East Side Community Development Corporation reported income of $229k and spending of $468k, spending 204% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $314k to $229k (-27%), an average of -7.6% a year. The sharpest change came in the year to June 2023, when income dropped by 72%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Worcester East Side Community Development Corporation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 60th percentile within MA. Charities of a similar size with the same main cause include Livonia Housing Development Fund Co Inc ($229k), Wesley Hills-Dyersburg Inc ($229k) and Academy Garden Apartments Inc ($229k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $77k (16% of expenses). Other salaries and wages came to $49k. At year end it held assets of $3.1m against liabilities of $3.6m, net assets of -$454k. It reported 2 employees.