Song Community Development Corporation

Analysis

Song Community Development Corporation is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in January 2022, 4 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 June 2023, Song Community Development Corporation reported income of $1.4m and spending of $677k, leaving 52% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $235k to $1.4m (+494%), an average of +494% a year. The sharpest change came in the year to June 2023, when income rose by 494%. Over the whole period it spent 53% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Song Community Development Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within LA. Charities of a similar size with the same main cause include Youth Action Programs and Homes Inc ($1.4m), Habitat for Humanity International Inc ($1.4m) and Association of Developmental Disabilities Providers ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $189k (28% of expenses). Other salaries and wages came to $170k. At year end it held assets of $823k against liabilities of $53k, net assets of $770k. It reported 5 employees.