Central Philadelphia Development Corporation

Analysis

Central Philadelphia Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in July 1962, 64 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Central Philadelphia Development Corporation reported income of $257k and spending of $222k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $324k to $257k (-21%), an average of -5.6% a year. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Central Philadelphia Development Corporation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within PA. Charities of a similar size with the same main cause include Mount Juliet Band Boosters Club Inc ($257k), Oakland East Bay Gay Mens Chorus ($257k) and Kent Plantation House Incorporated ($257k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $51k. At year end it held assets of $505k against liabilities of $195k, net assets of $310k.