Building Communities Inc

Analysis

Building Communities Inc is a registered charity in United States, based in Metuchen, NJ. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 October 2023, Building Communities Inc reported income of $896k and spending of $873k, spending 97% of its income. Across the 4 years on record, from October 2018 to October 2023, income grew from $742k to $896k (+21%), an average of +6.5% a year. The sharpest change came in the year to October 2023, when income rose by 28%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Building Communities Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 81st percentile within NJ. Charities of a similar size with the same main cause include Great Valley Housing Development Corporation ($895k), The Southwest Fair Housing Council ($897k) and Cornerstone Resource Alliance Inc ($895k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 2.6% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $96k (11% of expenses). Other salaries and wages came to $300k. At year end it held assets of $422k against liabilities of $631k, net assets of -$209k. It reported 17 employees.