Woodward Development Corporation

Analysis

Woodward Development Corporation is a registered charity in United States, based in Mount Vernon, OH. It received its IRS tax-exemption ruling in April 1998, 28 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Woodward Development Corporation reported income of $245k and spending of $711k, spending 291% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $3.2m to $245k (-92%), an average of -40% a year. The sharpest change came in the year to December 2020, when income dropped by 64%. Over the whole period it spent 34% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Woodward Development Corporation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within OH. Charities of a similar size with the same main cause include Nappanee Power From the Past Inc ($245k), American Arab Heritage Council ($245k) and City Lit Theatre Company ($245k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. At year end it held assets of $17.8m against liabilities of $27k, net assets of $17.8m.