Excelsior Local Development Corporation

Analysis

Excelsior Local Development Corporation is a registered charity in United States, based in Latham, NY. It received its IRS tax-exemption ruling in February 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Excelsior Local Development Corporation reported income of $1.3m and spending of $622k, leaving 51% of income unspent that year. Across the 4 years on record, from September 2020 to September 2023, income grew from $881k to $1.3m (+46%), an average of +13% a year. The sharpest change came in the year to September 2022, when income rose by 88%. Over the whole period it spent 37% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Excelsior Local Development Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Sandy Community Action Council Inc ($1.3m), Greater Washington DC Black Chambers ($1.3m) and Aya Foundation ($1.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Other salaries and wages came to $345k. At year end it held assets of $3.6m against liabilities of $195k, net assets of $3.4m. It reported 1 employees.