Glen Cove Downtown District MGMT Assn Inc

Analysis

Glen Cove Downtown District MGMT Assn Inc is a registered charity in United States, based in Glen Cove, NY. It received its IRS tax-exemption ruling in February 1998, 28 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 governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Glen Cove Downtown District MGMT Assn Inc reported income of $187k and spending of $249k, spending 133% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $198k to $187k (-5.5%), an average of -1.1% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Glen Cove Downtown District MGMT Assn Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within NY. Charities of a similar size with the same main cause include Twin-Training to Work an Industry Niche ($187k), 4 the Kids ($187k) and Hope Manifest Inc ($187k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $50k (20% of expenses). Other salaries and wages came to $46k. At year end it held assets of $101k against liabilities of $395, net assets of $100k. It reported 3 employees.