Gloucester Development Team Inc

Analysis

Gloucester Development Team Inc is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in July 1974, 52 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Gloucester Development Team Inc reported income of $373k and spending of $1.2m, spending 328% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $357k to $373k (+4.5%), an average of +1.1% a year. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gloucester Development Team Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within MA. Charities of a similar size with the same main cause include Chapel Court Housing Corporation ($373k), Vernon Senior Citizens Housing Development Corporation ($373k) and Miracle Village Inc ($373k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 3.8% of the total. At year end it held assets of $8.4m against liabilities of $26k, net assets of $8.3m.