54th Street Corporation

Analysis

54th Street Corporation is a registered charity in United States, based in Goldsboro, NC. It received its IRS tax-exemption ruling in March 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2024, 54th Street Corporation reported income of $103k and spending of $142k, spending 138% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $75k to $103k (+38%), an average of +8.3% a year. Over the whole period it spent 130% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, 54th Street Corporation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 35th percentile within NC. Charities of a similar size with the same main cause include Dreams Are Possible ($103k), Community Outreach in Action ($103k) and Pink Queen Foundation ($103k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $23k. At year end it held assets of $1.0m against liabilities of $14k, net assets of $1.0m.

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.