Corning Community College Development Foundation Inc

Analysis

Corning Community College Development Foundation Inc is a registered charity in United States, based in Corning, NY. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Corning Community College Development Foundation Inc reported income of $2.3m and spending of $3.2m, spending 139% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.5m to $2.3m (-35%), an average of -10% a year. The sharpest change came in the year to December 2022, when income rose by 152%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Corning Community College Development Foundation Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Center for Early Intervention on Deafness ($2.3m), Veterans Stride Foundaion at Iiop Inc ($2.3m) and Southeasterrn Baptist College Inc ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 52% of the total. At year end it held assets of $27.9m against liabilities of $16.5m, net assets of $11.4m.