Kensington Corridor Trust

Analysis

Kensington Corridor Trust is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 2022, 4 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, Kensington Corridor Trust reported income of $1.2m and spending of $903k, leaving 24% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $239k to $1.2m (+394%), an average of +394% a year. The sharpest change came in the year to December 2023, when income rose by 394%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kensington Corridor Trust sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within PA. Charities of a similar size with the same main cause include Provident Church Ministries Inc ($1.2m), Florida House Washington D C Inc ($1.2m) and Preferred Properties Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $141k (16% of expenses). Other salaries and wages came to $186k. At year end it held assets of $6.1m against liabilities of $5.7m, net assets of $386k. It reported 3 employees.