Core Services Group Inc

Analysis

Core Services Group Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 2007, 19 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 December 2022, Core Services Group Inc reported income of $12.0m and spending of $28.3m, spending 237% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $105.5m to $12.0m (-89%), an average of -52% a year. The sharpest change came in the year to December 2022, when income dropped by 90%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Core Services Group Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include CPLC Nevada Inc ($12.0m), Detroit Regional Chamber Foundation Inc ($12.0m) and National Black M B a Association Inc ($11.9m).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $19k (0.1% of expenses). Other salaries and wages came to $8.7m. At year end it held assets of $34.9m against liabilities of $46.8m, net assets of -$11.9m. It reported 478 employees.