Leominster Development Corporation

Analysis

Leominster Development Corporation is a registered charity in United States, based in Leominster, MA. It received its IRS tax-exemption ruling in June 1996, 30 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 December 2023, Leominster Development Corporation reported income of $289k and spending of $336k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $246k to $289k (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2020, when income rose by 15%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Leominster Development Corporation sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within MA. Charities of a similar size with the same main cause include Lake Minnetonka Figure Skating Club ($289k), Torrance-Lomita Meals on Wheels Inc ($289k) and Nahnum Church ($289k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $2.9m against liabilities of $2.7m, net assets of $232k.