Bellaire-Puritas Development Corp

Analysis

Bellaire-Puritas Development Corp is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in August 1992, 34 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, Bellaire-Puritas Development Corp reported income of $1.4m and spending of $1.2m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.4m to $1.4m (-0.7%), an average of -0.2% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bellaire-Puritas Development Corp sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within OH. Charities of a similar size with the same main cause include Burroughs Foundation ($1.4m), The Met Development Inc ($1.4m) and Riley Center ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $63k (5.4% of expenses). Other salaries and wages came to $539k. At year end it held assets of $1.9m against liabilities of $66k, net assets of $1.8m. It reported 39 employees.