Fayette County Industrial Development Corporation

Analysis

Fayette County Industrial Development Corporation is a registered charity in United States, based in Connersville, IN. It received its IRS tax-exemption ruling in April 1990, 36 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 December 2023, Fayette County Industrial Development Corporation reported income of $375k and spending of $502k, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $255k to $375k (+47%), an average of +10% a year. The sharpest change came in the year to December 2020, when income dropped by 1308%. Over the whole period it spent -134% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fayette County Industrial Development Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within IN. Charities of a similar size with the same main cause include Culpeper Renaissance Inc ($375k), Franklinton Special Improvement District of Columbus ($375k) and National Asphalt Pavement Association Research and Education ($375k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $3.4m against liabilities of $5,930, net assets of $3.4m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.