Downtown Wastington on the Waterfront

Analysis

Downtown Wastington on the Waterfront is a registered charity in United States, based in Washington, NC. It received its IRS tax-exemption ruling in March 2004, 22 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 June 2023, Downtown Wastington on the Waterfront reported income of $292k and spending of $248k, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $262k to $292k (+12%), an average of +2.8% a year. Over the whole period it spent 69% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Wastington on the Waterfront sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within NC. Charities of a similar size with the same main cause include Union Village Inc C/O Warren County Community ($292k), Montague Street District Management Association Inc ($292k) and Adonai Employment Inc ($292k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 25% of the total. Other salaries and wages came to $95k. At year end it held assets of $974k against liabilities of $478k, net assets of $496k. It reported 3 employees.