Norwich Building Tomorrow Foundation Inc

Analysis

Norwich Building Tomorrow Foundation Inc is a registered charity in United States, based in Norwich, NY. It received its IRS tax-exemption ruling in February 2013, 13 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, Norwich Building Tomorrow Foundation Inc reported income of $1.2m and spending of $341k, leaving 72% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $38k to $1.2m (+3132%), an average of +138% a year. The sharpest change came in the year to December 2022, when income rose by 1687%. Over the whole period it spent 50% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Norwich Building Tomorrow Foundation Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Central Area Neighborhood Development Organization ($1.2m), National Coalition of Black Meeting Planners Inc ($1.2m) and Blacks in Technology Foundation ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $1.9m against liabilities of $0, net assets of $1.9m.