Ferndale Downtown Developmentassociation

Analysis

Ferndale Downtown Developmentassociation is a registered charity in United States, based in Ferndale, WA. It received its IRS tax-exemption ruling in February 2018, 8 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, Ferndale Downtown Developmentassociation reported income of $118k and spending of $248k, spending 210% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $894k to $118k (-87%), an average of -87% a year. The sharpest change came in the year to December 2023, when income dropped by 87%. Over the whole period it spent 66% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ferndale Downtown Developmentassociation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 37th percentile within WA. Charities of a similar size with the same main cause include Eden Gardens Community Association ($118k), Tifton Tomorrow Inc ($118k) and Town of Ross Property Owners Association ($118k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $65k (26% of expenses). At year end it held assets of $345k against liabilities of $480, net assets of $345k.