Spring Street Community Development

Analysis

Spring Street Community Development is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in July 2013, 13 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, Spring Street Community Development reported income of $2.1m and spending of $2.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $311k to $2.1m (+571%), an average of +61% a year. The sharpest change came in the year to December 2020, when income rose by 615%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Spring Street Community Development sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within NJ. Charities of a similar size with the same main cause include Northwest Native Chamber ($2.1m), Hope Community Builders ($2.1m) and Austin Economic Development Cor ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $171k. At year end it held assets of $96k against liabilities of $66, net assets of $96k. It reported 16 employees.