Manhattan Valley Development Corporation

Analysis

Manhattan Valley Development Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 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, Manhattan Valley Development Corporation reported income of $346k and spending of $458k, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $326k to $346k (+6.0%), an average of +1.5% a year. The sharpest change came in the year to June 2020, when income rose by 18%. Over the whole period it spent 149% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Manhattan Valley Development Corporation sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within NY. Charities of a similar size with the same main cause include Norwalk Housing Foundation Inc ($345k), The Greater Richmond Chamber Foundation ($346k) and National Charity League Inc ($345k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $164k (36% of expenses). At year end it held assets of $802k against liabilities of $542k, net assets of $259k. It reported 4 employees.

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.