Greater Jamaica Development Corp

Analysis

Greater Jamaica Development Corp is a registered charity in United States, based in Jamaica, NY. It received its IRS tax-exemption ruling in October 1994, 32 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, Greater Jamaica Development Corp reported income of $10.1m and spending of $10.6m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.6m to $10.1m (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 115% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Jamaica Development Corp sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include St Clair County Community Action Agency ($10.1m), American Agape Foundation Inc ($10.2m) and Michigan Statewide Carpenters and Millwrights Jatc Fund ($10.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $934k (8.8% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $39.0m against liabilities of $15.0m, net assets of $24.0m. It reported 43 employees.

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.