Synergy Community Development Corporation

Analysis

Synergy Community Development Corporation is a registered charity in United States, based in Culver City, CA. It received its IRS tax-exemption ruling in June 2016, 10 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, Synergy Community Development Corporation reported income of $376k and spending of $404k, spending 107% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $132k to $376k (+186%), an average of +186% a year. The sharpest change came in the year to December 2023, when income rose by 186%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Synergy Community Development Corporation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within CA. Charities of a similar size with the same main cause include South Oakland Citizens for the Homeless ($376k), St Paul Baptist Church Housing Development Corporation ($377k) and Kimberly Meadows Corporation ($376k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $68k (17% of expenses). At year end it held assets of $40k against liabilities of $7,329, net assets of $33k. It reported 1 employees.