Jefferson County Local Development Corporation

Analysis

Jefferson County Local Development Corporation is a registered charity in United States, based in Watertown, NY. It received its IRS tax-exemption ruling in March 2014, 12 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Jefferson County Local Development Corporation reported income of $1.8m and spending of $2.5m, spending 140% of what it took in. Across the 6 years on record, from September 2019 to December 2023, income grew from $789k to $1.8m (+124%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 180%. Over the whole period it spent 110% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Jefferson County Local Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include 125th Street District Management Association Inc ($1.8m), Baltimore Washington Laborers Joint Training Fund ($1.8m) and Association of Asian American Investment Managers ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $208k (8.4% of expenses). Other salaries and wages came to $372k. At year end it held assets of $5.3m against liabilities of $2.3m, net assets of $3.0m. It reported 7 employees.