Newtowne Community Development Corporation

Analysis

Newtowne Community Development Corporation is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in March 2010, 16 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, Newtowne Community Development Corporation reported income of $96k and spending of $109k, spending 114% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $117k to $96k (-18%), an average of -18% a year. The sharpest change came in the year to December 2023, when income dropped by 18%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Newtowne Community Development Corporation sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 37th percentile within MD. Charities of a similar size with the same main cause include Community Career Development Council Inc ($96k), Cable Foundation ($96k) and Southern Tier Enterprise Development Organization Inc ($96k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $53k against liabilities of $6,308, net assets of $46k.