Belmont Arthur Avenue Local Development Corporation

Analysis

Belmont Arthur Avenue Local Development Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in November 1981, 45 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, Belmont Arthur Avenue Local Development Corporation reported income of $1.5m and spending of $1.9m, spending 123% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.6m to $1.5m (-41%), an average of -12% a year. The sharpest change came in the year to June 2023, when income dropped by 37%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Belmont Arthur Avenue Local Development Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Hilltop Alliance ($1.5m), Richland Community Development Group Inc ($1.5m) and Community Foundation of the Ozarks Stock TR ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 63% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $6.9m against liabilities of $319k, net assets of $6.5m. It reported 26 employees.