Banner Neighborhoods Community Corporation

Analysis

Banner Neighborhoods Community Corporation is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in August 1984, 42 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 June 2023, Banner Neighborhoods Community Corporation reported income of $1.5m and spending of $1.2m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $741k to $1.5m (+102%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 104%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Banner Neighborhoods Community Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MD. Charities of a similar size with the same main cause include Erie Canalway Heritage Fund Inc ($1.5m), Workforce Wayne ($1.5m) and Community Alternative Residential Environments Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $95k (7.7% of expenses). Other salaries and wages came to $399k. At year end it held assets of $1.8m against liabilities of $865k, net assets of $966k. It reported 24 employees.