Renew East Lyme Inc

Analysis

Renew East Lyme Inc is a registered charity in United States, based in Niantic, CT. It received its IRS tax-exemption ruling in October 2001, 25 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 June 2024, Renew East Lyme Inc reported income of $66k and spending of $95k, spending 142% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $70k to $66k (-5.9%), an average of -5.9% a year. Over the whole period it spent 120% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Renew East Lyme Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 24th percentile within CT. Charities of a similar size with the same main cause include Coventry Village Special Improvemnt District of Cleveland Heights Inc ($66k), Hunakai Park Association ($66k) and Bronx Rotary Foundation of Rotary Club of Bronx N Y ($66k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 7.7% and program service revenue 82% of the total. At year end it held assets of $99k against liabilities of $2,439, net assets of $97k.