Boc Development Corp

Analysis

Boc Development Corp is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 2006, 20 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 June 2023, Boc Development Corp reported income of $262k and spending of $311k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $258k to $262k (+1.6%), an average of +0.4% a year. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Boc Development Corp sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include Black Family Land Trust Inc ($262k), Key Peninsula Healthy Community ($262k) and Knights of Columbus Massachusetts State Council Charity Fund ($262k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 88% of the total. At year end it held assets of $48k against liabilities of $195k, net assets of -$147k.