Sylvester Broome Empowerment Village

Analysis

Sylvester Broome Empowerment Village is a registered charity in United States, based in Flint, MI. It received its IRS tax-exemption ruling in March 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 2022, Sylvester Broome Empowerment Village reported income of $1.9m and spending of $2.1m, spending 113% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $949k to $1.9m (+96%), an average of +25% a year. The sharpest change came in the year to December 2020, when income rose by 96%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Sylvester Broome Empowerment Village sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within MI. Charities of a similar size with the same main cause include Job Opportunities Task Force Inc ($1.9m), GFPB Inc ($1.9m) and Strive Incorporated ($1.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $104k (5.0% of expenses). Other salaries and wages came to $457k. At year end it held assets of $2.9m against liabilities of $842k, net assets of $2.1m. It reported 13 employees.