Broome County Land Bank Corporation

Analysis

Broome County Land Bank Corporation is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Broome County Land Bank Corporation reported income of $230k and spending of $33k, leaving 86% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $203k to $230k (+13%), an average of +4.2% a year. The sharpest change came in the year to December 2022, when income rose by 121%. Over the whole period it spent 22% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Broome County Land Bank Corporation sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within NY. Charities of a similar size with the same main cause include Opulent Philanthropy Inc ($230k), Home Builders Charitable Foundation ($230k) and Building Blocks Foundation ($230k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 193% of the total. At year end it held assets of $2.1m against liabilities of $951k, net assets of $1.2m.