Westport Downtown Association Inc

Analysis

Westport Downtown Association Inc is a registered charity in United States, based in Westport, CT. It received its IRS tax-exemption ruling in August 2021, 5 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending January 2024, Westport Downtown Association Inc reported income of $582k and spending of $531k, spending 91% of its income. Across the 5 years on record, from January 2020 to January 2024, income grew from $305k to $582k (+91%), an average of +18% a year. The sharpest change came in the year to January 2022, when income rose by 70%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Westport Downtown Association Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within CT. Charities of a similar size with the same main cause include Wentworth Economic Development Corporation Inc ($582k), Cherokee Cultural Community ($582k) and O a P Inc ($582k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 3.6% and program service revenue 59% of the total. At year end it held assets of $153k against liabilities of $5,112, net assets of $147k.