Washington Heights and Inwood Development Corporation

Analysis

Washington Heights and Inwood Development Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1979, 47 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 December 2023, Washington Heights and Inwood Development Corporation reported income of $333k and spending of $429k, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $297k to $333k (+12%), an average of +2.8% a year. Over the whole period it spent 162% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Washington Heights and Inwood Development Corporation sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Rotary Club of Tucson Foundation ($333k), Downtown PKB Inc ($333k) and Downtown Annapolis Partnership ($333k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $115k (27% of expenses). Other salaries and wages came to $39k. At year end it held assets of $222k against liabilities of $1.2m, net assets of -$965k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.