Southwest Boston Community Development Corporation

Analysis

Southwest Boston Community Development Corporation is a registered charity in United States, based in Hyde Park, MA. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Southwest Boston Community Development Corporation reported income of $1.9m and spending of $2.5m, spending 129% of what it took in. Across the 5 years on record, from June 2019 to December 2023, income grew from $531k to $1.9m (+266%), an average of +38% a year. The sharpest change came in the year to December 2021, when income rose by 126%. Over the whole period it spent 126% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southwest Boston Community Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Resilient Coders Inc ($1.9m), Ppep Microbusiness and Housing Development Corporation ($1.9m) and Walnut Hills Redevelopment Foundation Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $40k (1.6% of expenses). Other salaries and wages came to $118k. At year end it held assets of $21.7m against liabilities of $23.1m, net assets of -$1.4m. It reported 9 employees.

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.