Necog Development Corporation

Analysis

Necog Development Corporation is a registered charity in United States, based in Aberdeen, SD. It received its IRS tax-exemption ruling in August 1995, 31 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 December 2023, Necog Development Corporation reported income of $515k and spending of $133k, leaving 74% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $235k to $515k (+119%), an average of +22% a year. The sharpest change came in the year to December 2020, when income rose by 671%. Over the whole period it spent 29% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Necog Development Corporation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within SD. Charities of a similar size with the same main cause include Old Stone House of Brooklyn ($515k), New York Justice for Our Neighbors Inc ($515k) and PTA Texas Congress ($515k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 58% of the total. Compensation of current officers, directors and key employees was $3,400 (2.6% of expenses). At year end it held assets of $6.5m against liabilities of $1.3m, net assets of $5.2m.