Pawtucket Central Falls Development Corporation

Analysis

Pawtucket Central Falls Development Corporation is a registered charity in United States, based in Pawtucket, RI. It received its IRS tax-exemption ruling in April 1994, 32 years ago. 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 June 2023, Pawtucket Central Falls Development Corporation reported income of $2.4m and spending of $2.1m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $592k to $2.4m (+307%), an average of +42% a year. The sharpest change came in the year to June 2021, when income rose by 91%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pawtucket Central Falls Development Corporation sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within RI. Charities of a similar size with the same main cause include 2-1-1 Big Bend Inc ($2.4m), San Mateo County Historical Association ($2.4m) and Transitional Living of North Central Florida Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 45% of the total. Other salaries and wages came to $797k. At year end it held assets of $22.5m against liabilities of $20.2m, net assets of $2.3m. It reported 14 employees.