Urban Renewal Center

Analysis

Urban Renewal Center is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in September 2017, 9 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, Urban Renewal Center reported income of $548k and spending of $522k, spending 95% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $514k to $548k (+6.7%), an average of +3.3% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Urban Renewal Center sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within VA. Charities of a similar size with the same main cause include Renaissance-Parents of Success ($548k), Partnership in Property Commercial Land Trust ($548k) and Coppin Heights Community Development Corporation ($548k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $78k (15% of expenses). Other salaries and wages came to $193k. At year end it held assets of $607k against liabilities of $43k, net assets of $564k. It reported 13 employees.