Local Development Corporation of the Town of Union Broome County Ny

Analysis

Local Development Corporation of the Town of Union Broome County Ny is a registered charity in United States, based in Endwell, NY. It received its IRS tax-exemption ruling in May 1988, 38 years ago. 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, Local Development Corporation of the Town of Union Broome County Ny reported income of $1.4m and spending of $1.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $141k to $1.4m (+917%), an average of +79% a year. The sharpest change came in the year to December 2023, when income rose by 863%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Local Development Corporation of the Town of Union Broome County Ny 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 83rd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Mayors Institute for Excellence in Government Inc ($1.4m), Evansville Regional Economic Partnership Foundation ($1.4m) and Galion Community Center-Ymca ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 1.7% of the total. Other salaries and wages came to $95k. At year end it held assets of $3.2m against liabilities of $1.1m, net assets of $2.0m.