Hudson Development Corporation

Analysis

Hudson Development Corporation is a registered charity in United States, based in Hudson, NY. It received its IRS tax-exemption ruling in December 1984, 42 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, Hudson Development Corporation reported income of $117k and spending of $162k, spending 138% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $16k to $117k (+628%), an average of +64% a year. The sharpest change came in the year to December 2022, when income rose by 776%. Over the whole period it spent 27% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hudson Development Corporation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 40th percentile within NY. Charities of a similar size with the same main cause include Downtown Blackstone Inc ($117k), Tomahawk Mainstreet Inc ($118k) and New Glarus Vision Inc ($117k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% of the total. Compensation of current officers, directors and key employees was $37k (23% of expenses). At year end it held assets of $3.1m against liabilities of $173k, net assets of $2.9m. It reported 1 employees.