Ulster County Development Corporation

Analysis

Ulster County Development Corporation is a registered charity in United States, based in Kingston, NY. It received its IRS tax-exemption ruling in March 1981, 45 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, Ulster County Development Corporation reported income of $946k and spending of $1.0m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $225k to $946k (+321%), an average of +43% a year. The sharpest change came in the year to December 2022, when income rose by 703%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ulster County Development Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Delaware Community Reinvestment Action Council Inc ($944k), Mid-South Resource Conservation and Development Council Inc ($947k) and Mango Fund Inc ($944k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 6.8% of the total. At year end it held assets of $12.5m against liabilities of $10.8m, net assets of $1.6m.