Central Brooklyn Economic Development Corporation Inc

Analysis

Central Brooklyn Economic Development Corporation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2024, 2 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Central Brooklyn Economic Development Corporation Inc reported income of $681k and spending of $668k, spending 98% of its income. Across the 2 years on record, from December 2018 to December 2022, income grew from $261k to $681k (+161%), an average of +161% a year. The sharpest change came in the year to December 2022, when income rose by 161%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Central Brooklyn Economic Development Corporation Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Chicago Mennonite Learning Center ($681k), Golden State Athletic Conference Inc ($681k) and Dublin Jerome High School Booster Club Inc ($681k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $75k (11% of expenses). Other salaries and wages came to $252k. At year end it held assets of $80k against liabilities of $22k, net assets of $58k. It reported 10 employees.