New Gary Community Development Corp

Analysis

New Gary Community Development Corp is a registered charity in United States, based in Gary, IN. It received its IRS tax-exemption ruling in February 1999, 27 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Gary Community Development Corp reported income of $69k and spending of $73k, spending 106% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $87k to $69k (-20%), an average of -20% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Gary Community Development Corp sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 24th percentile within IN. Charities of a similar size with the same main cause include Ryan House Project ($69k), Laurel Court Inc ($69k) and Greater Abyssinian Housing Corporation Inc ($69k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $93k against liabilities of $19k, net assets of $74k.