Comprenew

Analysis

Comprenew is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in July 2013, 13 years ago. Its declared purposes cover employment, 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, Comprenew reported income of $2.3m and spending of $2.9m, spending 126% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $2.3m (+0.7%), an average of +0.2% a year. The sharpest change came in the year to June 2020, when income rose by 51%. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Comprenew sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within MI. Charities of a similar size with the same main cause include South Central Economic Development District Inc ($2.3m), City of Florence Public Facilities Corporation ($2.3m) and Innovative Industries ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.3% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $90k (3.1% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $969k against liabilities of $1.7m, net assets of -$684k. It reported 83 employees.

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.