Community Renewal Inc

Analysis

Community Renewal Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 1987, 39 years ago. 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, Community Renewal Inc reported income of $883k and spending of $970k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $728k to $883k (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Community Renewal Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MA. Charities of a similar size with the same main cause include Big Brothers Big Sisters of Cumberland & Salem Counties Inc ($883k), Willits Seniors Inc ($884k) and Texas Lyceum Association Inc ($883k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 75% of the total. At year end it held assets of $6.1m against liabilities of $2.3m, net assets of $3.8m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.