Top Development Corporation

Analysis

Top Development Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1999, 27 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Top Development Corporation reported income of $102k and spending of $163k, spending 160% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $79k to $102k (+28%), an average of +8.6% a year. The sharpest change came in the year to December 2022, when income rose by 226%. Over the whole period it spent 246% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Top Development Corporation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 37th percentile within NY. Charities of a similar size with the same main cause include Chari-T-2000 Inc ($102k), I Am That Woman Movement Inc ($102k) and School Transportation Association of Indiana ($102k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 15% of the total. Other salaries and wages came to $33k. At year end it held assets of $2.9m against liabilities of $1.0m, net assets of $1.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.