East Akron Neighborhood Development Corporation

Analysis

East Akron Neighborhood Development Corporation is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in July 1982, 44 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 (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, East Akron Neighborhood Development Corporation reported income of $6.1m and spending of $4.3m, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.8m to $6.1m (+61%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 70%. Over the whole period it spent 78% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, East Akron Neighborhood Development Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within OH. Charities of a similar size with the same main cause include Breaking Ground IV Housing Development Fund Corporation ($6.1m), Nevada Partnership for Homeless Youth ($6.2m) and Neighborhood Housing Services of Chicago Inc ($6.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $306k (7.2% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $37.1m against liabilities of $18.4m, net assets of $18.7m. It reported 48 employees.