Newburgh Community Land Bank Inc

Analysis

Newburgh Community Land Bank Inc is a registered charity in United States, based in Newburgh, NY. It received its IRS tax-exemption ruling in August 2014, 12 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 June 2021, Newburgh Community Land Bank Inc reported income of $1.2m and spending of $657k, leaving 45% of income unspent that year. Across the 3 years on record, from June 2019 to June 2021, income fell from $2.5m to $1.2m (-53%), an average of -31% a year. The sharpest change came in the year to June 2021, when income rose by 105%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Newburgh Community Land Bank Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Refuge Coffee Inc ($1.2m), Western Connecticut Coalition Inc ($1.2m) and Ser Corporation ($1.2m).

On its Form 990 for the period ending June 2021, revenue came from contributions and grants 115% of the total. Other salaries and wages came to $270k. At year end it held assets of $2.2m against liabilities of $328k, net assets of $1.9m. It reported 4 employees.