Regional Development Funding Corporation

Analysis

Regional Development Funding Corporation is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in April 1981, 45 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Regional Development Funding Corporation reported income of $1.2m and spending of $1.1m, spending 86% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $904k to $1.2m (+36%), an average of +7.9% a year. The sharpest change came in the year to September 2021, when income rose by 516%. Over the whole period it spent 38% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Regional Development Funding Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include El Rescate ($1.2m), Red Ants Pants Foundation ($1.2m) and Local Development Corporation of Crown Heights Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 92% of the total. Compensation of current officers, directors and key employees was $413k (39% of expenses). Other salaries and wages came to $162k. At year end it held assets of $15.7m against liabilities of $268k, net assets of $15.4m. It reported 6 employees.