Finger Lakes Community Development Corporation

Analysis

Finger Lakes Community Development Corporation is a registered charity in United States, based in Geneva, NY. It received its IRS tax-exemption ruling in August 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Finger Lakes Community Development Corporation reported income of $736k and spending of $778k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $799k to $736k (-7.8%), an average of -2.0% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Finger Lakes Community Development Corporation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Vinokan Residence Corporation ($736k), Salvation Army Wahiawa Residences Inc ($737k) and Volunteers of America Inc ($736k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $551k. At year end it held assets of $2.7m against liabilities of $276k, net assets of $2.4m. It reported 18 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.