Ogdensburg Land Bank Corporation

Analysis

Ogdensburg Land Bank Corporation is a registered charity in United States, based in Ogdensburg, NY. It received its IRS tax-exemption ruling in April 2020, 6 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, Ogdensburg Land Bank Corporation reported income of $159k and spending of $35k, leaving 78% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $306k to $159k (-48%), an average of -15% a year. The sharpest change came in the year to December 2021, when income rose by 119%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ogdensburg Land Bank Corporation sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include Aspiring Texas Latinos Achieving Succeeding Together ($159k), Zanesville Civic League Inc ($159k) and South 27th Street Business District Association Inc ($159k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. At year end it held assets of $431k against liabilities of $3,000, net assets of $428k.