Redec Relending Corporation

Analysis

Redec Relending Corporation is a registered charity in United States, based in Painted Post, NY. It received its IRS tax-exemption ruling in June 1993, 33 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 September 2023, Redec Relending Corporation reported income of $393k and spending of $374k, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $390k to $393k (+0.8%), an average of +0.2% a year. The sharpest change came in the year to September 2020, when income rose by 45%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Redec Relending Corporation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Commonwealth Policy Foundation ($393k), Rotary Club of Sacramento Foundation ($393k) and Community Dispute Resolution Center ($393k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 57% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $95k (25% of expenses). Other salaries and wages came to $114k. At year end it held assets of $1.9m against liabilities of $1.3m, net assets of $686k.