Kingston City Land Bank

Analysis

Kingston City Land Bank is a registered charity in United States, based in Kingston, NY. It received its IRS tax-exemption ruling in February 2020, 6 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kingston City Land Bank reported income of $1.1m and spending of $646k, leaving 43% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $824k to $1.1m (+39%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 101%. Over the whole period it spent 42% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Kingston City Land Bank sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Northwest Side CDC ($1.1m), Mt Carmel Redevelopment Corporation Inc ($1.1m) and Saucony Cross Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $83k (13% of expenses). Other salaries and wages came to $105k. At year end it held assets of $3.0m against liabilities of $29k, net assets of $3.0m. It reported 4 employees.