Elmira Downtown Development Inc

Analysis

Elmira Downtown Development Inc is a registered charity in United States, based in Elmira, NY. It received its IRS tax-exemption ruling in October 1990, 36 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, Elmira Downtown Development Inc reported income of $291k and spending of $294k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $286k to $291k (+1.7%), an average of +0.4% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Elmira Downtown Development Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Ferdinand Community Center Corporation ($291k), Dress for Success SW Florida Inc ($291k) and Kindness Cville ($290k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $68k (23% of expenses). Other salaries and wages came to $14k. At year end it held assets of $141k against liabilities of $1,032, net assets of $140k. It reported 5 employees.