Greater Dwight Development Corporation

Analysis

Greater Dwight Development Corporation is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in June 1996, 30 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 2023, Greater Dwight Development Corporation reported income of $597k and spending of $473k, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $890k to $597k (-33%), an average of -9.5% a year. The sharpest change came in the year to June 2023, when income rose by 134%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Dwight Development Corporation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within CT. Charities of a similar size with the same main cause include Door County Economic Development Corporation ($597k), Mineral Springs Center Inc ($598k) and Perrysburg Heights Community Association ($597k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $151k (32% of expenses). Other salaries and wages came to $34k. At year end it held assets of $3.2m against liabilities of $368k, net assets of $2.8m. It reported 1 employees.