Nybdc Local Development Corporation

Analysis

Nybdc Local Development Corporation is a registered charity in United States, based in Latham, NY. It received its IRS tax-exemption ruling in October 2009, 17 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 September 2023, Nybdc Local Development Corporation reported income of $12.3m and spending of $7.9m, leaving 36% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.9m to $12.3m (+56%), an average of +12% a year. The sharpest change came in the year to September 2020, when income rose by 58%. Over the whole period it spent 60% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Nybdc Local Development Corporation sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Community Action Board of Santa Cruz County Inc ($12.3m), Powerswitch Action ($12.4m) and Association for Iron and Steel Technology ($12.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 61% and program service revenue 39% of the total. Other salaries and wages came to $3.7m. At year end it held assets of $46.5m against liabilities of $22.0m, net assets of $24.5m. It reported 29 employees.