Crosstown Redevelopment Cooperative Association Inc

Analysis

Crosstown Redevelopment Cooperative Association Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in March 2015, 11 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 2023, Crosstown Redevelopment Cooperative Association Inc reported income of $2.5m and spending of $937k, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.6m to $2.5m (-46%), an average of -14% a year. The sharpest change came in the year to December 2022, when income rose by 9251%. Over the whole period it spent 9.5% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Crosstown Redevelopment Cooperative Association Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Chicagos Sunshine Enterprises Inc ($2.5m), E Warren Development Corporation ($2.5m) and Marion Moss Enterprises Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 106% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $579k (62% of expenses). At year end it held assets of $9.1m against liabilities of $14.8m, net assets of -$5.7m. It reported 3 employees.