Kiryas Joel Municipal Local Development Corporation

Analysis

Kiryas Joel Municipal Local Development Corporation is a registered charity in United States, based in Monroe, NY. It received its IRS tax-exemption ruling in June 1993, 33 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kiryas Joel Municipal Local Development Corporation reported income of $5.1m and spending of $5.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $5.1m (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2020, when income rose by 15%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kiryas Joel Municipal Local Development Corporation 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 90th percentile within NY. Charities of a similar size with the same main cause include Community Services Inc of Northwest Missouri ($5.0m), Meyer Center for Special Children ($5.1m) and National Capital Bnai Brith Housing Foundation Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $2.9m. At year end it held assets of $3.0m against liabilities of $752k, net assets of $2.2m. It reported 93 employees.