West Harlem Development Corporation

Analysis

West Harlem Development Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2011, 15 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, West Harlem Development Corporation reported income of $1.3m and spending of $3.7m, spending 278% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.3m (+7.6%), an average of +1.8% a year. The sharpest change came in the year to December 2023, when income rose by 81%. Over the whole period it spent 265% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, West Harlem Development Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Northern Mechanical and Iron Range Plumbing & Pipefitting Jac 11 & 58 ($1.3m), No-Mo ($1.3m) and Wilmington Economic Development Corporation ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% of the total. Compensation of current officers, directors and key employees was $222k (6.1% of expenses). Other salaries and wages came to $371k. At year end it held assets of $57.2m against liabilities of $1.9m, net assets of $55.3m. It reported 6 employees.

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.