South Bronx Overall Economic Development Corporation

Analysis

South Bronx Overall Economic Development Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in August 1973, 53 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 March 2022, South Bronx Overall Economic Development Corporation reported income of $12.0m and spending of $12.2m, spending 101% of its income. Across the 4 years on record, from March 2019 to March 2022, income fell from $14.5m to $12.0m (-17%), an average of -6.1% a year. The sharpest change came in the year to March 2021, when income dropped by 37%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South Bronx Overall Economic Development Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Trufund Financial Services Inc ($12.0m), Eastern Atlantic States Carpenters Technical College ($12.0m) and Abilities Inc of Florida ($12.0m).

On its Form 990 for the period ending March 2022, revenue came from contributions and grants 88% and program service revenue 8.7% of the total. Compensation of current officers, directors and key employees was $413k (3.4% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $9.4m against liabilities of $4.8m, net assets of $4.7m. It reported 366 employees.