Harlem Commonwealth Council Inc

Analysis

Harlem Commonwealth Council Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1997, 29 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harlem Commonwealth Council Inc reported income of $4.6m and spending of $4.1m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.6m (+33%), an average of +7.5% a year. The sharpest change came in the year to June 2020, when income rose by 53%. 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, Harlem Commonwealth Council Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include South Segment Community Development Corporation ($4.6m), Democracy at Work Institute ($4.6m) and Societys Assets Incorporated ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $677k (17% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $23.8m against liabilities of $3.9m, net assets of $19.9m. It reported 90 employees.