Greenwich Town Party Inc

Analysis

Greenwich Town Party Inc is a registered charity in United States, based in Old Greenwich, CT. It received its IRS tax-exemption ruling in September 2012, 14 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 June 2023, Greenwich Town Party Inc reported income of $3.9m and spending of $4.2m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $3.9m (+9.4%), an average of +2.3% a year. The sharpest change came in the year to June 2022, when income rose by 15500%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greenwich Town Party Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Pottawattamie County Development Corporation ($3.9m), Global Detroit ($3.9m) and Science Park Development Corporation ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 25% of the total. At year end it held assets of $795k against liabilities of $39k, net assets of $756k.

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.