Pinnacle Community Developmentcorporation

Analysis

Pinnacle Community Developmentcorporation is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in March 2007, 19 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, Pinnacle Community Developmentcorporation reported income of $536k and spending of $690k, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $440k to $536k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2021, when income rose by 286%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Pinnacle Community Developmentcorporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within NC. Charities of a similar size with the same main cause include Build From Within Alliance ($536k), Indiana Conference for Women Ltd ($537k) and Employ America ($536k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $199k (29% of expenses). Other salaries and wages came to $100k. At year end it held assets of $117k against liabilities of $150k, net assets of -$33k. It reported 9 employees.