Greater Sheepshead Bay Developement Corp

Analysis

Greater Sheepshead Bay Developement Corp is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in November 1981, 45 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 2024, Greater Sheepshead Bay Developement Corp reported income of $65k and spending of $65k, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $102k to $65k (-36%), an average of -11% a year. The sharpest change came in the year to June 2023, when income dropped by 43%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Sheepshead Bay Developement Corp sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 27th percentile within NY. Charities of a similar size with the same main cause include Herrin Education Foundation ($65k), Couffo Collaborative ($65k) and Kimmies of the Bahl Beljeemer ($65k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $31k (48% of expenses). Other salaries and wages came to $12k. At year end it held assets of $23k against liabilities of $15k, net assets of $8,310. It reported 3 employees.