Ashland Development Corp

Analysis

Ashland Development Corp is a registered charity in United States, based in Ashland, WI. It received its IRS tax-exemption ruling in November 1984, 42 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ashland Development Corp reported income of $1.6m and spending of $1.2m, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $298k to $1.6m (+448%), an average of +53% a year. The sharpest change came in the year to December 2023, when income rose by 138%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ashland Development Corp sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within WI. Charities of a similar size with the same main cause include Middle Georgia Diversified Industries Inc ($1.6m), Quality Life Center of Southwest Florida Inc ($1.6m) and International Center for Professional Development ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 19% of the total. Other salaries and wages came to $278k. At year end it held assets of $2.6m against liabilities of $118k, net assets of $2.5m. It reported 9 employees.