Good Old Lower East Side Inc

Analysis

Good Old Lower East Side Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1978, 48 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 2022, Good Old Lower East Side Inc reported income of $2.6m and spending of $2.1m, spending 80% of its income. Across the 3 years on record, from June 2020 to June 2022, income grew from $1.8m to $2.6m (+46%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 41%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Good Old Lower East Side Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Community Hope Center ($2.6m), Jo Ann Carter Harrelson Center Inc ($2.6m) and Sequoia Plaza Mobilehome Park Corporation ($2.6m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $167k (7.9% of expenses). Other salaries and wages came to $899k. At year end it held assets of $2.5m against liabilities of $131k, net assets of $2.4m. It reported 24 employees.