Pinegrove Development Corporation

Analysis

Pinegrove Development Corporation is a registered charity in United States, based in York, ME. It received its IRS tax-exemption ruling in April 2003, 23 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 March 2023, Pinegrove Development Corporation reported income of $300k and spending of $384k, spending 128% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $285k to $300k (+5.4%), an average of +1.8% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Pinegrove Development Corporation sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 56th percentile within ME. Charities of a similar size with the same main cause include Eskaton Clearlake Oaks Manor ($300k), Pace Economic Development Corporation ($300k) and Habitat for Humanity International Inc ($300k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $2.3m against liabilities of $26k, net assets of $2.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.