Community Renewal Team Inc

Analysis

Community Renewal Team Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in July 1964, 62 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Community Renewal Team Inc reported income of $59.3m and spending of $57.8m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $43.2m to $59.3m (+37%), an average of +8.2% a year. The sharpest change came in the year to December 2022, when income rose by 20%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Community Renewal Team Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include 4 Good Community Inc ($59.2m), Fellowship Village Inc ($59.4m) and Colorado Cattlemens Agricultural Land Trust ($59.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $673k (1.2% of expenses). Other salaries and wages came to $15.6m. At year end it held assets of $35.7m against liabilities of $9.5m, net assets of $26.3m. It reported 495 employees.