East New York CLT Inc

Analysis

East New York CLT Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, East New York CLT Inc reported income of $1.3m and spending of $178k, leaving 86% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $95k to $1.3m (+1251%), an average of +1251% a year. The sharpest change came in the year to December 2023, when income rose by 1251%. Over the whole period it spent 15% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, East New York CLT Inc sits at the 76th percentile: it is larger than about 76% 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 Little Tokyo Towers Inc ($1.3m), Ebenezer Development Corporation ($1.3m) and Restoration House of Greater Kansas City ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.8m against liabilities of $624k, net assets of $1.2m.