New Covenant Community Development

Analysis

New Covenant Community Development is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 2014, 12 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 2023, New Covenant Community Development reported income of $691k and spending of $787k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $318k to $691k (+117%), an average of +21% a year. The sharpest change came in the year to December 2020, when income rose by 278%. Over the whole period it spent 67% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Covenant Community Development 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 75th percentile, and in the 74th percentile within IL. Charities of a similar size with the same main cause include West Augustine Historical Community Development Corporation ($691k), Making It Count Community Development ($691k) and North Newstead Association ($691k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $368k. At year end it held assets of $1.0m against liabilities of $140k, net assets of $879k. It reported 7 employees.