Newsed Community Development Corporation Inc

Analysis

Newsed Community Development Corporation Inc is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in August 1983, 43 years ago. 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, Newsed Community Development Corporation Inc reported income of $1.5m and spending of $1.5m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.5m (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2021, when income rose by 122%. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newsed Community Development Corporation Inc 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 84th percentile, and in the 83rd percentile within CO. Charities of a similar size with the same main cause include South Louisville Community Ministries Inc ($1.5m), Advanced Housing Alternatives Corporation ($1.5m) and South Central Lutheran Camp Association of Indiana Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $122k (8.0% of expenses). Other salaries and wages came to $581k. At year end it held assets of $7.2m against liabilities of $2.8m, net assets of $4.4m. It reported 18 employees.