Northside Industrial Development Company

Analysis

Northside Industrial Development Company is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in August 2006, 20 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Northside Industrial Development Company reported income of $2.8m and spending of $3.1m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $2.8m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2022, when income rose by 117%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Northside Industrial Development Company sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include Sheet Metal Workers International Association ($2.8m), West Virginia Community Development Hub Inc ($2.8m) and Rei Development Corp ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $111k (3.5% of expenses). Other salaries and wages came to $596k. At year end it held assets of $3.4m against liabilities of $487k, net assets of $2.9m. It reported 12 employees.