Grace Neighborhood Development Corporation

Analysis

Grace Neighborhood Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 2020, 6 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 December 2023, Grace Neighborhood Development Corporation reported income of $8.1m and spending of $5.7m, leaving 30% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $3.6m to $8.1m (+125%), an average of +18% a year. The sharpest change came in the year to December 2019, when income rose by 40%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grace Neighborhood Development Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within PA. Charities of a similar size with the same main cause include Anthesis Services ($8.1m), Valley Economic Development Partners Inc ($8.2m) and Economic Opportunities Council of Indian River County Inc ($8.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.0% and program service revenue 91% of the total. Other salaries and wages came to $3.9m. At year end it held assets of $10.8m against liabilities of $1.0m, net assets of $9.8m. It reported 115 employees.