Pawtuckets Business Development Corporation

Analysis

Pawtuckets Business Development Corporation is a registered charity in United States, based in Pawtucket, RI. It received its IRS tax-exemption ruling in August 1981, 45 years ago. 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 2023, Pawtuckets Business Development Corporation reported income of $180k and spending of $258k, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $45k to $180k (+297%), an average of +41% a year. The sharpest change came in the year to June 2023, when income rose by 751%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pawtuckets Business Development Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within RI. Charities of a similar size with the same main cause include South Valley Athletics ($180k), Santa Rosa Youth Football Incorporated ($180k) and Connecticut Association of Street and Highway Officals ($180k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 6.0% of the total. At year end it held assets of $587k against liabilities of $34k, net assets of $553k.