New Beginning of Albany Community Development Corporation

Analysis

New Beginning of Albany Community Development Corporation is a registered charity in United States, based in Albany, GA. It received its IRS tax-exemption ruling in May 2016, 10 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, New Beginning of Albany Community Development Corporation reported income of $757k and spending of $710k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $612k to $757k (+24%), an average of +5.4% a year. The sharpest change came in the year to December 2021, when income rose by 27%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Beginning of Albany Community Development Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within GA. Charities of a similar size with the same main cause include Hollister Community Outreach ($756k), Destination Innovation Inc ($757k) and The Spirit of Construction Foundation of Greater Cincinnati ($756k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $49k. At year end it held assets of $216k against liabilities of $21k, net assets of $195k. It reported 21 employees.