Renaissance Development Fund

Analysis

Renaissance Development Fund is a registered charity in United States, based in Benton Harbor, MI. It received its IRS tax-exemption ruling in September 1998, 28 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Renaissance Development Fund reported income of $5.9m and spending of $3.2m, leaving 45% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.5m to $5.9m (-60%), an average of -20% a year. The sharpest change came in the year to December 2023, when income rose by 114%. Over the whole period it spent 52% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Renaissance Development Fund sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MI. Charities of a similar size with the same main cause include Southern Minnesota Initiative Foundation ($5.9m), Polk County Workforce Development Board Inc ($5.9m) and Green Thumb Environmental Beautification Inc ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 4.8% of the total. At year end it held assets of $20.2m against liabilities of $29.5m, net assets of -$9.3m.