Greater Lake City Community Development Corporation Inc

Analysis

Greater Lake City Community Development Corporation Inc is a registered charity in United States, based in Lake City, FL. It received its IRS tax-exemption ruling in June 2003, 23 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 December 2022, Greater Lake City Community Development Corporation Inc reported income of $189k and spending of $88k, leaving 53% of income unspent that year. Across the 3 years on record, from December 2020 to December 2022, income grew from $110k to $189k (+72%), an average of +31% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 53% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Greater Lake City Community Development Corporation Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 56th percentile within FL. Charities of a similar size with the same main cause include St Ritas of Lafayette Inc ($189k), Castorland Associates ($189k) and Cloverdale Community Housing Inc ($189k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $18k (20% of expenses). At year end it held assets of $791k against liabilities of $375k, net assets of $416k. It reported 2 employees.