New Village Corporation

Analysis

New Village Corporation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in October 1990, 36 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 2023, New Village Corporation reported income of $7.2m and spending of $2.8m, leaving 62% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $7.2m (+358%), an average of +46% a year. The sharpest change came in the year to June 2021, when income dropped by 6384%. Over the whole period it spent -139% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Village Corporation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Illinois Laborers & Contractors Training Trust Fund ($7.2m), Montgomery County Economic Development Corporation ($7.2m) and Women Giving Back Inc ($7.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 5.6% of the total. Other salaries and wages came to $141k. At year end it held assets of $21.7m against liabilities of $10.9m, net assets of $10.8m.