Club 720 Development Corporation

Analysis

Club 720 Development Corporation is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in January 2020, 6 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, Club 720 Development Corporation reported income of $1.6m and spending of $1.4m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $267k to $1.6m (+484%), an average of +55% a year. The sharpest change came in the year to December 2020, when income rose by 397%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Club 720 Development Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within IN. Charities of a similar size with the same main cause include Westchester-Fairfield Electrical Jo Int Apprenticeship and Training TR ($1.6m), Richmond Community-Owned Development Enterprise ($1.6m) and Creser Capital Fund ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $196k (14% of expenses). Other salaries and wages came to $248k. At year end it held assets of $631k against liabilities of $0, net assets of $631k. It reported 7 employees.