Catholic Charities Progress of Development Corporation

Analysis

Catholic Charities Progress of Development Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1946, 80 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Catholic Charities Progress of Development Corporation reported income of $8.4m and spending of $2.1m, leaving 75% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.8m to $8.4m (+121%), an average of +22% a year. The sharpest change came in the year to June 2020, when income rose by 339%. Over the whole period it spent 36% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Catholic Charities Progress of Development Corporation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Little Falls Health Services ($8.4m), Ci University Auxiliary Services Inc ($8.5m) and Eden Investments Inc ($8.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 58% of the total. Other salaries and wages came to $741k. At year end it held assets of $123.2m against liabilities of $4.2m, net assets of $119.0m. It reported 4 employees.