Madison Riverfront Development Corporation

Analysis

Madison Riverfront Development Corporation is a registered charity in United States, based in Madison, IN. It received its IRS tax-exemption ruling in January 1986, 40 years ago. 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, Madison Riverfront Development Corporation reported income of $737k and spending of $1.7m, spending 225% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $124k to $737k (+492%), an average of +56% a year. The sharpest change came in the year to December 2022, when income rose by 283%. Over the whole period it spent 125% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Madison Riverfront Development Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within IN. Charities of a similar size with the same main cause include Los Angeles Police Museum ($737k), Oak Hill Inc ($737k) and Volunteers of America Inc ($736k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 22% of the total. At year end it held assets of $212k against liabilities of $295k, net assets of -$83k.