New Manayunk Corp

Analysis

New Manayunk Corp is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 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 (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, New Manayunk Corp reported income of $2.3m and spending of $1.9m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.3m (+59%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 93%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Manayunk Corp sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within PA. Charities of a similar size with the same main cause include Claire Heureuse Community Center Inc ($2.3m), Leadership Foundations ($2.3m) and Worksource Enterprises ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $143k (7.5% of expenses). At year end it held assets of $3.8m against liabilities of $2.1m, net assets of $1.7m. It reported 17 employees.