Northeastern Resources Development Corp

Analysis

Northeastern Resources Development Corp is a registered charity in United States, based in Wilkes Barre, PA. It received its IRS tax-exemption ruling in June 1987, 39 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Northeastern Resources Development Corp reported income of $534k and spending of $523k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $395k to $534k (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2020, when income rose by 91%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Northeastern Resources Development Corp sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within PA. Charities of a similar size with the same main cause include The Freedom Foundation ($534k), Corner Cupboard Food Bank ($534k) and Family Resource Center ($533k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% of the total. Compensation of current officers, directors and key employees was $39k (7.5% of expenses). Other salaries and wages came to $76k. It paid $133k in professional fundraising fees. At year end it held assets of $6.4m against liabilities of $541k, net assets of $5.9m. It reported 5 employees.