Galeo Latino Community Development Fund Inc

Analysis

Galeo Latino Community Development Fund Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in September 2023, 3 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 2023, Galeo Latino Community Development Fund Inc reported income of $1.9m and spending of $2.0m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $576k to $1.9m (+224%), an average of +34% a year. The sharpest change came in the year to December 2020, when income rose by 305%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Galeo Latino Community Development Fund Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 88th percentile within GA. Charities of a similar size with the same main cause include Downtown Development Corporation ($1.9m), Impact Evv Inc ($1.9m) and GFPB Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $99k (4.9% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $1.9m against liabilities of $150k, net assets of $1.7m. It reported 20 employees.