Hermon Development Corp

Analysis

Hermon Development Corp is a registered charity in United States, based in Hermon, NY. It received its IRS tax-exemption ruling in December 1991, 35 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hermon Development Corp reported income of $137k and spending of $126k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $119k to $137k (+15%), an average of +3.6% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hermon Development Corp sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within NY. Charities of a similar size with the same main cause include Movimiento Familiar Cristiano L a ($137k), Aliqulppa Economic Development Corporation ($137k) and Mental Health America of South Carolina ($137k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $530k against liabilities of $637k, net assets of -$107k.