Carthage Industrial Development Corporation

Analysis

Carthage Industrial Development Corporation is a registered charity in United States, based in Carthage, NY. It received its IRS tax-exemption ruling in September 1999, 27 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, Carthage Industrial Development Corporation reported income of $174k and spending of $134k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $185k to $174k (-6.3%), an average of -1.6% a year. The sharpest change came in the year to December 2022, when income rose by 144%. Over the whole period it spent 428% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carthage Industrial Development Corporation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Rotary Club of Belfast Maine Charitable Fund ($174k), Gia Community Development Corporation ($174k) and Bay Village Neighborhood Association Inc ($173k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 76% of the total. At year end it held assets of $4.2m against liabilities of $0, net assets of $4.2m.