Bloomfield Development Corporation

Analysis

Bloomfield Development Corporation is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in August 2007, 19 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, Bloomfield Development Corporation reported income of $276k and spending of $247k, spending 89% of its income. Across the 3 years on record, from December 2020 to December 2023, income fell from $339k to $276k (-18%), an average of -9.7% a year. The sharpest change came in the year to December 2023, when income rose by 68%. Over the whole period it spent 110% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bloomfield Development Corporation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within PA. Charities of a similar size with the same main cause include Puede Network ($276k), Bradley Prevention Coalition Inc ($276k) and Global Ecolabelling Network Inc ($276k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $62k (25% of expenses). Other salaries and wages came to $130k. At year end it held assets of $50k against liabilities of $175k, net assets of -$124k. It reported 4 employees.