Mt Olive Development Corp

Analysis

Mt Olive Development Corp is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in October 1992, 34 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 2022, Mt Olive Development Corp reported income of $1.1m and spending of $284k, leaving 73% of income unspent that year. Across the 3 years on record, from December 2020 to December 2022, income fell from $5.1m to $1.1m (-79%), an average of -54% a year. The sharpest change came in the year to December 2021, when income dropped by 85%. Over the whole period it spent 69% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Mt Olive Development Corp sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Hartford Performs ($1.1m), Jackson County Junior Fair Foundation Inc ($1.1m) and Camp Chippewa Foundation ($1.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 91% and program service revenue 9.2% of the total. At year end it held assets of $2.2m against liabilities of $7,316, net assets of $2.2m.