Ennio Cerquetti Memorial Development Corporation

Analysis

Ennio Cerquetti Memorial Development Corporation is a registered charity in United States, based in Elma, NY. It received its IRS tax-exemption ruling in July 2013, 13 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Ennio Cerquetti Memorial Development Corporation reported income of $115k and spending of $127k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $66k to $115k (+75%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 49%. Over the whole period it spent 146% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ennio Cerquetti Memorial Development Corporation sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within NY. Charities of a similar size with the same main cause include Sturgis Neighborhood Program ($115k), Palacio Del Sol II Inc ($115k) and Transitional Living Inc ($115k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 63% of the total. Other salaries and wages came to $14k. At year end it held assets of $1.6m against liabilities of $23k, net assets of $1.6m.

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.