Goldsboro Development Corporation

Analysis

Goldsboro Development Corporation is a registered charity in United States, based in Goldsboro, NC. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2024, Goldsboro Development Corporation reported income of $181k and spending of $337k, spending 186% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $81k to $181k (+124%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 125%. Over the whole period it spent 166% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Goldsboro Development Corporation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 49th percentile within NC. Charities of a similar size with the same main cause include Waynedale Apartments Inc ($181k), Scottsville Housing for the Elderly Inc ($181k) and H O L I E of Waukesha Inc ($181k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. At year end it held assets of $2.5m against liabilities of $65k, net assets of $2.5m.

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.