East New York Restoration Local Development Corporation

Analysis

East New York Restoration Local Development Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 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 2022, East New York Restoration Local Development Corporation reported income of $714k and spending of $799k, spending 112% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $393k to $714k (+82%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, East New York Restoration Local Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Columbus Economic Development Corporation ($714k), Hawaii Alliance for Progressive Action ($714k) and Keystone Development Partnership ($714k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $386k. It paid $7,784 in professional fundraising fees. At year end it held assets of $436k against liabilities of $370k, net assets of $66k. It reported 4 employees.