Greenpoint Manufacturing and Design Center Local Development Corp GMDC

Analysis

Greenpoint Manufacturing and Design Center Local Development Corp GMDC is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 1993, 33 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, Greenpoint Manufacturing and Design Center Local Development Corp GMDC reported income of $6.5m and spending of $5.9m, spending 91% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $4.8m to $6.5m (+34%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 200%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greenpoint Manufacturing and Design Center Local Development Corp GMDC sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Finishing Trades Institute of New England ($6.5m), Griffiss Local Development Corporation ($6.5m) and Junior League of Houston Inc ($6.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $724k (12% of expenses). Other salaries and wages came to $751k. At year end it held assets of $68.2m against liabilities of $39.9m, net assets of $28.3m. It reported 27 employees.