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Greater Jamaica Local Development Corp Inc

EIN 11-2563026 · Jamaica, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong96 out of 100GovernanceStrong95 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

SEE SCHEDULE OGREATER JAMAICA LOCAL DEVELOPMENT COMPANY, INC. ("GJLDC") WORKING IN CONJUNCTION WITH ITS AFFILIATE COMPANY, THE GREATER JAMAICA DEVELOPMENT CORPORATION ("GJDC"), PROVIDES FINANCIAL AND RELATED TECHNICAL ASSISTANCE TO QUALIFYING SMALL BUSINESSES AND/OR ENTREPRENEURS IN GJLDC'S TARGET MARKET. THE OBJECTIVE OF THE FINANCING IS TO PROMOTE ENTREPRENEURSHIP, CREATE NEW JOBS, RETAIN EXISTING JOBS, AND PROMOTE COMMUNITY REVITALIZATION AND/OR STABILIZATION.THIS SUPPORT INCLUDES, BUT IS NOT LIMITED TO, - NAVIGATING GOVERNMENTAL REGULATIONS- ACCESSING TRAINING GRANTS- LOAN PACKAGING- ADVOCACY

Income
$1.0 million
Spending
$358,801
Spent on programs
97%
Reserves
34.5 months of spending
Largest source of income
government grants, 55%
Employees
0
Volunteers
30
Highest pay
$358,397, president & ceo

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 96 out of 100. Higher than 89% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 34.5 months of spending.

  • Debt

    16 of 20

    It owes 28% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 65% of income.

  • Income trend

    15 of 15

    Income rose 65% on the year before.

  • Spending floor

    15 of 15

    97% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 95 out of 100. Higher than 62% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    30 of 30 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $346,610 spent. SEE SCHEDULE OWITHIN OUR TARGET MARKET, GJLDC PROVIDES ESSENTIAL ACCESS TO CAPITAL FOR QUALIFIED COMMERCIAL BORROWERS WHO ARE UNABLE TO SECURE FINANCING THROUGH TRADITIONAL LENDING INSTITUTIONS. BY ADDRESSING THIS FINANCING GAP, WE HELP UNLOCK BUSINESS POTENTIAL AND DRIVE ECONOMIC DEVELOPMENT IN UNDERSERVED COMMUNITIES. GJLDC FREQUENTLY PARTNERS WITH BANKS, CREDIT UNIONS, AND OTHER FINANCIAL ENTITIES TO CO-FINANCE PROJECTS THAT EXCEED OUR INDIVIDUAL LENDING CAPACITY, ALLOWING US TO SUPPORT LARGER-SCALE VENTURES THAT GENERATE MEANINGFUL ECONOMIC OUTCOMES.OUR APPROACH TO IMPACT IS BOTH QUANTITATIVE AND COMMUNITY-FOCUSED. WE MEASURE SUCCESS NOT JUST BY DOLLARS DISBURSED, BUT ALSO BY THE VOLUME OF PRIVATE CAPITAL LEVERAGED, THE STRENGTH AND SUSTAINABILITY OF THE BUSINESSES WE SUPPORT, AND, MOST CRITICALLY, THE NUMBER OF LOCAL JOBS CREATED OR RETAINED. THESE METRICS REFLECT OUR COMMITMENT TO FOSTERING INCLUSIVE ECONOMIC GROWTH AND EMPOWERING ENTREPRENEURS FROM ALL BACKGROUNDS TO BUILD AND SCALE THEIR ENTERPRISES.THE COVID-19 PANDEMIC PRESENTED AN UNPRECEDENTED CHALLENGE TO THE SMALL BUSINESS COMMUNITY. IN RESPONSE, GJLDC AND OUR AFFILIATE GJDC SIGNIFICANTLY EXPANDED OUR TECHNICAL ASSISTANCE OFFERINGS, THE URGENCY OF THE PANDEMIC PROMPTED US TO MORE THAN DOUBLE OUR OUTREACH. WORKING CLOSELY WITH FEDERAL, STATE, AND LOCAL GOVERNMENT PARTNERS, WE SERVED AS A TRUSTED RESOURCE DURING A PERIOD OF CRISIS, ENSURING OUR BUSINESS COMMUNITY HAD ACCESS TO ACCURATE GUIDANCE AND CRITICAL CAPITAL.AS WE CONTINUE TO EMERGE FROM THE EFFECTS OF THE PANDEMIC, GJLDC REMAINS FOCUSED ON GROWTH AND OPPORTUNITY. IN 2025, WE MADE 18 NEW LOANS, INCLUDING BOTH TERM LOANS AND LINES OF CREDIT, WITH AN AVERAGE LOAN AMOUNT OF $19,400. THESE LOANS SUPPORTED A DIVERSE RANGE OF INDUSTRIES AND HELPED BUSINESSES EXPAND, STABILIZE OPERATIONS, AND HIRE NEW STAFF.SINCE THE INCEPTION OF OUR LOAN FUND, GJLDC HAS LOANED OR LEVERAGED MORE THAN $52.1 MILLION, DIRECTLY CONTRIBUTING TO THE CREATION OR RETENTION OF OVER 2,100 JOBS. THESE RESULTS UNDERSCORE THE IMPORTANCE OF OUR WORK IN BUILDING RESILIENT LOCAL ECONOMIES AND SUPPORTING SMALL BUSINESSES AS ENGINES OF JOB CREATION AND NEIGHBORHOOD REVITALIZATION.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 1985.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.