King of Prussia Business Improvement District Inc

Analysis

King of Prussia Business Improvement District Inc is a registered charity in United States, based in KNG of Prussa, PA. It received its IRS tax-exemption ruling in August 2011, 15 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, King of Prussia Business Improvement District Inc reported income of $3.1m and spending of $2.8m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $3.1m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2020, when income rose by 287%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, King of Prussia Business Improvement District Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within PA. Charities of a similar size with the same main cause include Tysons Community Alliance ($3.1m), Rehabilitation & Vocational Education Program Inc ($3.1m) and Valley Small Business Development Corporation ($3.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $299k (11% of expenses). Other salaries and wages came to $375k. At year end it held assets of $5.2m against liabilities of $100k, net assets of $5.1m. It reported 6 employees.