Goler-Depot Street Renaissance Corporation

Analysis

Goler-Depot Street Renaissance Corporation is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in May 1999, 27 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, Goler-Depot Street Renaissance Corporation reported income of $676k and spending of $1.2m, spending 177% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $868k to $676k (-22%), an average of -8.0% a year. The sharpest change came in the year to December 2020, when income dropped by 45%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goler-Depot Street Renaissance Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within NC. Charities of a similar size with the same main cause include Belong Bakery ($676k), South-Central Idaho Tourism and Recreational Development Assoc Inc ($676k) and Community Development Corproation of Leesburg and Vicinity Inc ($676k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 24% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $155k (13% of expenses). Other salaries and wages came to $39k. At year end it held assets of $1.9m against liabilities of $1.1m, net assets of $787k. It reported 3 employees.