GSMBC Community Development Corporation

Analysis

GSMBC Community Development Corporation is a registered charity in United States, based in Headland, AL. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, GSMBC Community Development Corporation reported income of $1.0m and spending of $7,781, leaving 99% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $571k to $1.0m (+82%), an average of +82% a year. The sharpest change came in the year to December 2023, when income rose by 82%. Over the whole period it spent 0.9% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, GSMBC Community Development Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within AL. Charities of a similar size with the same main cause include Federal Employee Education and Assistance Fund ($1.0m), Stepping Stones Learning Center Inc ($1.0m) and Caring Child Center Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.3% of the total. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m.