Greater Jamaica Local Development Corp Inc

Analysis

Greater Jamaica Local Development Corp Inc is a registered charity in United States, based in Jamaica, NY. It received its IRS tax-exemption ruling in August 1985, 41 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 December 2023, Greater Jamaica Local Development Corp Inc reported income of $594k and spending of $437k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $37k to $594k (+1498%), an average of +100% a year. The sharpest change came in the year to December 2020, when income rose by 3432%. Over the whole period it spent 31% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Jamaica Local Development Corp Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Hands on Birmingham Inc ($593k), Rock River Development Partnership Inc ($594k) and Black Men S Xchange National Inc ($593k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 18% of the total. Other salaries and wages came to $198k. At year end it held assets of $5.0m against liabilities of $629k, net assets of $4.4m.