Commission on Economic Opportunity for the Rensselaer County Area Inc

Analysis

Commission on Economic Opportunity for the Rensselaer County Area Inc is a registered charity in United States, based in Troy, NY. It received its IRS tax-exemption ruling in December 1965, 61 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 March 2023, Commission on Economic Opportunity for the Rensselaer County Area Inc reported income of $17.1m and spending of $14.8m, spending 87% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $16.6m to $17.1m (+3.1%), an average of +0.8% a year. The sharpest change came in the year to March 2023, when income rose by 17%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Commission on Economic Opportunity for the Rensselaer County Area Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Northwest Arkansas Council Foundation ($17.0m), Eastern Connecticut Workforce Investment Board Inc ($17.1m) and Evas Village Inc ($17.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 1.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $518k (3.5% of expenses). Other salaries and wages came to $7.0m. At year end it held assets of $20.6m against liabilities of $2.1m, net assets of $18.5m. It reported 244 employees.