V1 Community Impact Inc

Analysis

V1 Community Impact Inc is a registered charity in United States, based in Ridgewood, NY. It received its IRS tax-exemption ruling in November 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 2022, V1 Community Impact Inc reported income of $384k and spending of $283k, leaving 27% of income unspent that year. Across the 2 years on record, from December 2021 to December 2022, income grew from $329k to $384k (+17%), an average of +17% a year. The sharpest change came in the year to December 2022, when income rose by 17%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, V1 Community Impact Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include HRDC Griffin Place Holding Corporation ($384k), Tricounty Community Network Inc ($385k) and Community Council ($384k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% and program service revenue 0.6% of the total. Other salaries and wages came to $52k. At year end it held assets of $153k against liabilities of $0, net assets of $153k.