Brick Capital Community Development Corporation

Analysis

Brick Capital Community Development Corporation is a registered charity in United States, based in Sanford, NC. It received its IRS tax-exemption ruling in May 1993, 33 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Brick Capital Community Development Corporation reported income of $494k and spending of $754k, spending 153% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $235k to $494k (+111%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 440%. 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, Brick Capital Community Development Corporation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Lemhi County Economic Development Corporation ($494k), Seaside Heights Business Improvement District Inc ($495k) and Galvestons Own Farmers Market Inc ($494k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $80k (11% of expenses). Other salaries and wages came to $155k. At year end it held assets of $3.6m against liabilities of $1.9m, net assets of $1.7m. It reported 8 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.