Restoration of Petersburg Community Development Corporation

Analysis

Restoration of Petersburg Community Development Corporation is a registered charity in United States, based in Petersburg, VA. It received its IRS tax-exemption ruling in July 1999, 27 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, Restoration of Petersburg Community Development Corporation reported income of $194k and spending of $211k, spending 108% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $313k to $194k (-38%), an average of -9.1% a year. The sharpest change came in the year to December 2023, when income dropped by 47%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Restoration of Petersburg Community Development Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 53rd percentile within VA. Charities of a similar size with the same main cause include Bridges Community Economic Development Corp ($194k), Okeechobee Main St Inc ($194k) and Laurens County Humane Society ($194k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $126k. At year end it held assets of $801k against liabilities of $492k, net assets of $309k.