New Covenant Community Development Corp

Analysis

New Covenant Community Development Corp is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, New Covenant Community Development Corp reported income of $1.7m and spending of $1.7m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $534k to $1.7m (+212%), an average of +33% a year. The sharpest change came in the year to June 2020, when income rose by 68%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Covenant Community Development Corp sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Sojourner Project Inc ($1.7m), Wonders & Worries Inc ($1.7m) and Harvey County Domestic Violence and Sexual Assault Task Force Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $99k (6.0% of expenses). At year end it held assets of $103k against liabilities of $1,500, net assets of $101k.