Vanguard Community Development Corporation

Analysis

Vanguard Community Development Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in January 1995, 31 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Vanguard Community Development Corporation reported income of $949k and spending of $1.5m, spending 154% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income grew from $815k to $949k (+16%), an average of +3.9% a year. The sharpest change came in the year to December 2020, when income rose by 31%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Vanguard Community Development Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include Excell Partners Inc ($948k), Area 1 Plumbers Joint Apprenticeship and Training ($949k) and Mid-South Resource Conservation and Development Council Inc ($947k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 86% of the total. Compensation of current officers, directors and key employees was $431k (29% of expenses). Other salaries and wages came to $187k. At year end it held assets of $3.2m against liabilities of $597k, net assets of $2.7m. It reported 8 employees.