Living Redemption Community Development Corporation

Analysis

Living Redemption Community Development Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2020, 6 years ago. 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, Living Redemption Community Development Corporation reported income of $4.5m and spending of $4.0m, spending 89% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $833k to $4.5m (+438%), an average of +132% a year. The sharpest change came in the year to December 2022, when income rose by 289%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Living Redemption Community Development Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include National Association of the Deaf ($4.5m), Meadville Physician Services ($4.5m) and St Josephs Village for Senior Citizen Housing Development Fund C ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.7% of the total. Compensation of current officers, directors and key employees was $689k (17% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $2.1m against liabilities of $647k, net assets of $1.4m. It reported 36 employees.