Lowell Development and Financial Corporation

Analysis

Lowell Development and Financial Corporation is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in February 1977, 49 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 June 2024, Lowell Development and Financial Corporation reported income of $459k and spending of $501k, spending 109% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $330k to $459k (+39%), an average of +8.6% a year. The sharpest change came in the year to June 2021, when income rose by 43%. Over the whole period it spent 114% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lowell Development and Financial Corporation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within MA. Charities of a similar size with the same main cause include Teamwomenmn ($459k), Identity Clark County ($459k) and Ur Chicago Alliance Inc ($458k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 7.8% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $152k (30% of expenses). Other salaries and wages came to $93k. At year end it held assets of $8.5m against liabilities of $2.4m, net assets of $6.1m. It reported 2 employees.