Nedc Riverfront Corp

Analysis

Nedc Riverfront Corp is a registered charity in United States, based in Marlboro, NJ. It received its IRS tax-exemption ruling in August 1985, 41 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, Nedc Riverfront Corp reported income of $822k and spending of $522k, leaving 36% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $467k to $822k (+76%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 94%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Nedc Riverfront Corp sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 80th percentile within NJ. Charities of a similar size with the same main cause include Webster Area Development Corporation Inc ($821k), Grow Inc ($822k) and Chapel Hill Downtown Partnership Inc ($821k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $251k (48% of expenses). At year end it held assets of $1.6m against liabilities of $1.9m, net assets of -$327k. It reported 1 employees.