Rochester Downtown Development Corporation

Analysis

Rochester Downtown Development Corporation is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in December 2016, 10 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, Rochester Downtown Development Corporation reported income of $1.9m and spending of $1.7m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $610k to $1.9m (+210%), an average of +33% a year. The sharpest change came in the year to December 2020, when income rose by 69%. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rochester Downtown Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Pinellas Opportunity Council Inc ($1.9m), Arc Alliance ($1.9m) and Arizona Womens Business Enterprise Council ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $204k (12% of expenses). Other salaries and wages came to $274k. At year end it held assets of $2.6m against liabilities of $776k, net assets of $1.8m. It reported 4 employees.