The Community Preservation Corporation

Analysis

The Community Preservation Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1974, 52 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, The Community Preservation Corporation reported income of $77.9m and spending of $86.6m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $80.1m to $77.9m (-2.7%), an average of -0.7% a year. The sharpest change came in the year to June 2020, when income rose by 169%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Community Preservation Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Detroit Employment Solutions Corporation ($77.2m), Reinvestment Fund Inc ($78.0m) and Goodwill Foundation of Middle TN ($76.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $16.5m (19% of expenses). Other salaries and wages came to $9.8m. At year end it held assets of $1.73bn against liabilities of $1.47bn, net assets of $264.1m. It reported 200 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.