Johnstown Industrial Development Corporation

Analysis

Johnstown Industrial Development Corporation is a registered charity in United States, based in Johnstown, PA. It received its IRS tax-exemption ruling in May 1998, 28 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Johnstown Industrial Development Corporation reported income of $2.3m and spending of $2.5m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $466k to $2.3m (+393%), an average of +49% a year. The sharpest change came in the year to December 2023, when income rose by 1089%. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Johnstown Industrial Development Corporation 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 87th percentile, and in the 86th percentile within PA. Charities of a similar size with the same main cause include Providence House ($2.3m), Rural Electric Economic Development Inc ($2.3m) and Womens Audio Mission ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 9.7% of the total. At year end it held assets of $5.5m against liabilities of $2.4m, net assets of $3.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.