Downtown Bedford Inc

Analysis

Downtown Bedford Inc is a registered charity in United States, based in Bedford, PA. It received its IRS tax-exemption ruling in April 2002, 24 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 December 2023, Downtown Bedford Inc reported income of $147k and spending of $127k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $167k to $147k (-12%), an average of -3.1% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Bedford Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 44th percentile within PA. Charities of a similar size with the same main cause include Masters Commission Inc ($147k), Sky City Initiative ($147k) and Welift Job Search Center ($147k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 20% of the total. Other salaries and wages came to $18k. At year end it held assets of $207k against liabilities of $1,883, net assets of $205k. It reported 2 employees.