Development Chenango Corporation

Analysis

Development Chenango Corporation is a registered charity in United States, based in Norwich, NY. It received its IRS tax-exemption ruling in January 1990, 36 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, Development Chenango Corporation reported income of $253k and spending of $333k, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $288k to $253k (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Development Chenango Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include Bridge of Tiftarea Inc ($253k), Florida Association for Community Action Inc Faca ($253k) and Winner Regional Health & Wellness Foundation ($253k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 9.0% of the total. At year end it held assets of $3.7m against liabilities of $168k, net assets of $3.5m.