Downtown Development Corporation

Analysis

Downtown Development Corporation is a registered charity in United States, based in Rutland, VT. It received its IRS tax-exemption ruling in July 2018, 8 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Downtown Development Corporation reported income of $546k and spending of $452k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $504k to $546k (+8.3%), an average of +2.0% a year. The sharpest change came in the year to December 2021, when income rose by 44%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Downtown Development Corporation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 67th percentile within VT. Charities of a similar size with the same main cause include Marys Shelter of the Treasure Coast Inc ($545k), Salem Interfaith Hospitality Network ($546k) and Hispanic Housing Services Inc Villa at Sacred Heart ($545k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $851k against liabilities of $739k, net assets of $112k.