Greater Southwest Development Corporation

Analysis

Greater Southwest Development Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 1977, 49 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, Greater Southwest Development Corporation reported income of $2.8m and spending of $2.5m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $2.8m (+117%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 84%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Southwest Development Corporation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within IL. Charities of a similar size with the same main cause include Manufacturers Edge ($2.8m), Donate Delaware Inc ($2.8m) and Cement Masons and Plasterers Training Trust of Washington ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 3.4% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $19.0m against liabilities of $4.7m, net assets of $14.3m. It reported 31 employees.