Technical Development Corporation

Analysis

Technical Development Corporation is a registered charity in United States, based in Peabody, MA. It received its IRS tax-exemption ruling in November 1968, 58 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 (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, Technical Development Corporation reported income of $2.3m and spending of $3.9m, spending 165% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.1m to $2.3m (-24%), an average of -6.6% a year. The sharpest change came in the year to December 2022, when income dropped by 57%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Technical Development Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Fair Work Center ($2.3m), Teamchild ($2.3m) and Strong Towns ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $532k (14% of expenses). At year end it held assets of $4.0m against liabilities of $2.1m, net assets of $1.9m. It reported 25 employees.