Cypress Hills Local Development Corporation Inc

Analysis

Cypress Hills Local Development Corporation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 1988, 38 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, Cypress Hills Local Development Corporation Inc reported income of $19.3m and spending of $18.1m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $15.6m to $19.3m (+24%), an average of +5.4% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cypress Hills Local Development Corporation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Adams and Brown Counties Economic Opportunities Inc ($19.3m), Abilitypath ($19.3m) and Battle Creek Unlimited Inc ($19.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $365k (2.0% of expenses). Other salaries and wages came to $11.5m. At year end it held assets of $23.8m against liabilities of $11.9m, net assets of $11.9m. It reported 582 employees.