Tremont West Development Corporation

Analysis

Tremont West Development Corporation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in August 1969, 57 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Tremont West Development Corporation reported income of $779k and spending of $942k, spending 121% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $897k to $779k (-13%), an average of -4.6% a year. 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, Tremont West Development Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within OH. Charities of a similar size with the same main cause include Downtown Art Center ($779k), Journal Square Special Improvement District Management Corporation ($780k) and Burke Partnership for Economic Development Inc ($779k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 14% of the total. Other salaries and wages came to $386k. At year end it held assets of $1.7m against liabilities of $871k, net assets of $826k. It reported 9 employees.