Developemental Enterprises Corp

Analysis

Developemental Enterprises Corp is a registered charity in United States, based in Norristown, PA. It received its IRS tax-exemption ruling in February 1972, 54 years ago. Its declared purposes cover employment, 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, Developemental Enterprises Corp reported income of $7.9m and spending of $7.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.8m to $7.9m (-19%), an average of -5.1% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Developemental Enterprises Corp sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within PA. Charities of a similar size with the same main cause include Burning Glass Institute ($7.9m), Virginia Beach Community Development Corporation ($7.9m) and Downtown Fort Worth Initiatives Inc ($7.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $155k (2.0% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $10.2m against liabilities of $763k, net assets of $9.4m. It reported 304 employees.