Ringgold County Development Corp

Analysis

Ringgold County Development Corp is a registered charity in United States, based in Mount Ayr, IA. It received its IRS tax-exemption ruling in May 2023, 3 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 December 2023, Ringgold County Development Corp reported income of $551k and spending of $93k, leaving 83% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $702k to $551k (-22%), an average of -22% a year. The sharpest change came in the year to December 2023, when income dropped by 22%. Over the whole period it spent 8.1% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ringgold County Development Corp sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 74th percentile within IA. Charities of a similar size with the same main cause include Veterans Enterprise Training & Services Group Inc ($551k), Lewis County Center for Construcive Resolution and Convers ($551k) and Bexley Community Improvement Corporation ($550k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $52k (57% of expenses). Other salaries and wages came to $1,028. At year end it held assets of $1.4m against liabilities of $1,446, net assets of $1.4m. It reported 2 employees.