Business Development Corporation of Van Wert Inc

Analysis

Business Development Corporation of Van Wert Inc is a registered charity in United States, based in Van Wert, OH. It received its IRS tax-exemption ruling in September 2009, 17 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Business Development Corporation of Van Wert Inc reported income of $459k and spending of $153k, leaving 67% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $207k to $459k (+122%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 190%. Over the whole period it spent 33% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Business Development Corporation of Van Wert Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within OH. Charities of a similar size with the same main cause include Marietta Welcome Center Inc ($459k), The Mentoring Partnership of Minnesota ($459k) and Muncie Downtown Development Partnership ($459k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 4.2% of the total. At year end it held assets of $2.1m against liabilities of $0, net assets of $2.1m.