Developspringfield Corporation

Analysis

Developspringfield Corporation is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in March 2010, 16 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 June 2022, Developspringfield Corporation reported income of $167k and spending of $196k, spending 118% of what it took in. Across the 4 years on record, from June 2019 to June 2022, income fell from $645k to $167k (-74%), an average of -36% a year. The sharpest change came in the year to June 2022, when income dropped by 55%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Developspringfield Corporation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 54th percentile within MA. Charities of a similar size with the same main cause include Growing Small Towns ($167k), Mendocino Private Industry Council ($167k) and Everywomans Self-Defense Inc ($167k).

On its Form 990 for the period ending June 2022, revenue came from program service revenue 96% of the total. At year end it held assets of $6.1m against liabilities of $844k, net assets of $5.3m.