SBC Community Development Corporation of Richmond Heights

Analysis

SBC Community Development Corporation of Richmond Heights is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in October 2003, 23 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, SBC Community Development Corporation of Richmond Heights reported income of $515k and spending of $598k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $481k to $515k (+7.0%), an average of +1.7% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, SBC Community Development Corporation of Richmond Heights sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 73rd percentile within FL. Charities of a similar size with the same main cause include North Buffalo Organization Inc ($515k), Ofs Holdings Inc ($516k) and Syracuse Pulp & Paper Foundation Inc-College of Forestry at Syracus ($515k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. Other salaries and wages came to $428k. At year end it held assets of $505k against liabilities of $3,385, net assets of $502k. It reported 29 employees.