Coalfield Development Corporation

Analysis

Coalfield Development Corporation is a registered charity in United States, based in Huntington, WV. It received its IRS tax-exemption ruling in June 2011, 15 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 (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, Coalfield Development Corporation reported income of $11.6m and spending of $13.1m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.7m to $11.6m (+104%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 106%. Over the whole period it spent 75% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Coalfield Development Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within WV. Charities of a similar size with the same main cause include Southwest Philadelphia Presbytery Apartments Inc ($11.6m), MCB Family Housing Inc ($11.6m) and Opa-Locka Community Development Corporation Inc ($11.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $452k (3.4% of expenses). Other salaries and wages came to $4.1m. At year end it held assets of $25.2m against liabilities of $9.1m, net assets of $16.1m. It reported 164 employees.