Philadelphia Shipyard Development Corporation

Analysis

Philadelphia Shipyard Development Corporation is a registered charity in United States, based in Eagleville, PA. It received its IRS tax-exemption ruling in April 1999, 27 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Philadelphia Shipyard Development Corporation reported income of $390k and spending of $228k, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3,380 to $390k (+11435%), an average of +228% a year. The sharpest change came in the year to December 2020, when income rose by 4238%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Philadelphia Shipyard Development Corporation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within PA. Charities of a similar size with the same main cause include Gallatin Shalom Zone Inc ($390k), San Antonio Fighting Back Inc ($390k) and People of the Sacred Land ($390k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% of the total. Compensation of current officers, directors and key employees was $118k (52% of expenses). At year end it held assets of $987k against liabilities of $338k, net assets of $649k. It reported 1 employees.