Phoenix Community Development and Investment Corporation

Analysis

Phoenix Community Development and Investment Corporation is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in January 2006, 20 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 December 2023, Phoenix Community Development and Investment Corporation reported income of $3.8m and spending of $2.0m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.0m to $3.8m (+28%), an average of +6.3% a year. The sharpest change came in the year to December 2023, when income rose by 74%. Over the whole period it spent 67% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Phoenix Community Development and Investment Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within AZ. Charities of a similar size with the same main cause include Dayton Region New Market Fund LLC ($3.8m), Opportunity Works Connecticut Inc ($3.8m) and Workforce Development Council Board ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 48% of the total. At year end it held assets of $39.3m against liabilities of $163k, net assets of $39.2m.