Margert Community Corporation

Analysis

Margert Community Corporation is a registered charity in United States, based in Far Rockaway, NY. It received its IRS tax-exemption ruling in February 1981, 45 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 March 2023, Margert Community Corporation reported income of $3.2m and spending of $3.3m, spending 101% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $1.9m to $3.2m (+67%), an average of +14% a year. The sharpest change came in the year to March 2023, when income rose by 55%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Margert Community Corporation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Concord Homes Inc ($3.2m), Christ the King Community Outreach ($3.2m) and Kingdom Builders Transitional Housing Program ($3.2m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $200k (6.1% of expenses). Other salaries and wages came to $772k. At year end it held assets of $3.5m against liabilities of $913k, net assets of $2.6m. It reported 9 employees.