NHS Neighborhood Redevelopment Corporation

Analysis

NHS Neighborhood Redevelopment Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 1997, 29 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, NHS Neighborhood Redevelopment Corporation reported income of $5.0m and spending of $6.2m, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $882k to $5.0m (+468%), an average of +54% a year. The sharpest change came in the year to June 2020, when income dropped by 772%. Over the whole period it spent 565% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, NHS Neighborhood Redevelopment Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Venture for America Inc ($5.0m), California Coastal Rural Development Corporation ($5.0m) and Tulsa Economic Development Corporation ($5.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 72% of the total. At year end it held assets of $18.5m against liabilities of $8.7m, net assets of $9.8m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.