Phelps Business Development &tourism Council Inc

Analysis

Phelps Business Development &tourism Council Inc is a registered charity in United States, based in Phelps, NY. It received its IRS tax-exemption ruling in August 2008, 18 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, Phelps Business Development &tourism Council Inc reported income of $169k and spending of $116k, leaving 31% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $124k to $169k (+36%), an average of +36% a year. The sharpest change came in the year to December 2023, when income rose by 36%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Phelps Business Development &tourism Council Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Precipitation Northwest ($169k), Tigrean Association ($169k) and Aberdeen Revitalization Movement ($168k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 26% of the total. At year end it held assets of $37k against liabilities of $33k, net assets of $4,145.