Genesee Gateway Local Development Corporation

Analysis

Genesee Gateway Local Development Corporation is a registered charity in United States, based in Batavia, NY. It received its IRS tax-exemption ruling in December 2005, 21 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Genesee Gateway Local Development Corporation reported income of $2.7m and spending of $1.7m, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.7m (+65%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 206%. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Genesee Gateway Local Development Corporation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Jones Valley Urban Farm ($2.7m), Natick Service Council Inc ($2.7m) and Learning Undefeated Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 32% of the total. At year end it held assets of $18.8m against liabilities of $7.1m, net assets of $11.7m.