Fairbank Development Corporation

Analysis

Fairbank Development Corporation is a registered charity in United States, based in Fairbank, IA. It received its IRS tax-exemption ruling in August 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 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 September 2023, Fairbank Development Corporation reported income of $92k and spending of $63k, leaving 32% of income unspent that year. Across the 2 years on record, from September 2022 to September 2023, income fell from $108k to $92k (-15%), an average of -15% a year. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fairbank Development Corporation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within IA. Charities of a similar size with the same main cause include West Allis-West Milwaukee Family Resource Center ($92k), On Our Own III Inc ($92k) and Manufacturers Council of the Inland Empire ($92k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 28% and program service revenue 71% of the total. At year end it held assets of $77k against liabilities of $0, net assets of $77k.