Coal Street Redevelopment Inc

Analysis

Coal Street Redevelopment Inc is a registered charity in United States, based in Kingston, PA. It received its IRS tax-exemption ruling in August 2017, 9 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, Coal Street Redevelopment Inc reported income of $617k and spending of $1.1m, spending 176% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $910k to $617k (-32%), an average of -9.3% a year. The sharpest change came in the year to December 2021, when income dropped by 30%. Over the whole period it spent 130% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Coal Street Redevelopment Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within PA. Charities of a similar size with the same main cause include Greater Indianapolis Progress Committee Inc ($617k), One Voice United Inc ($617k) and 100 Men of Blue Hill ($617k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 125% of the total. At year end it held assets of $8.5m against liabilities of $9.6m, net assets of -$1.1m.

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.