West Virginia Community Development Hub Inc

Analysis

West Virginia Community Development Hub Inc is a registered charity in United States, based in Charleston, WV. It received its IRS tax-exemption ruling in November 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, West Virginia Community Development Hub Inc reported income of $2.8m and spending of $2.5m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.8m (+134%), an average of +24% a year. The sharpest change came in the year to December 2022, when income rose by 105%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, West Virginia Community Development Hub Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within WV. Charities of a similar size with the same main cause include Northside Industrial Development Company ($2.8m), Delmar Divine Charitable Foundation ($2.8m) and Sheet Metal Workers International Association ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $96k (3.8% of expenses). Other salaries and wages came to $869k. At year end it held assets of $1.7m against liabilities of $513k, net assets of $1.2m. It reported 16 employees.