Southwest Brooklyn Industrial Development Corporation

Analysis

Southwest Brooklyn Industrial Development Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 1980, 46 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 (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, Southwest Brooklyn Industrial Development Corporation reported income of $1.1m and spending of $1.0m, spending 93% of its income. Across the 5 years on record, from May 2020 to June 2023, income grew from $1.0m to $1.1m (+8.4%), an average of +2.0% a year. The sharpest change came in the year to June 2021, when income rose by 1912%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southwest Brooklyn Industrial Development Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Homeaid Atlanta Inc ($1.1m), Greater St Cloud Development Corporation ($1.1m) and Seneca Facilities Corporation ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $138k (13% of expenses). Other salaries and wages came to $387k. At year end it held assets of $676k against liabilities of $125k, net assets of $551k. It reported 10 employees.