Wayne County Development Corporation

Analysis

Wayne County Development Corporation is a registered charity in United States, based in Corydon, IA. It received its IRS tax-exemption ruling in January 2020, 6 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, Wayne County Development Corporation reported income of $273k and spending of $209k, leaving 23% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $405k to $273k (-33%), an average of -12% a year. The sharpest change came in the year to December 2023, when income dropped by 35%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wayne County Development Corporation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 61st percentile within IA. Charities of a similar size with the same main cause include Highland Community Association Inc ($273k), Spokane Area Business Foundation ($273k) and Hispanic Resources Inc ($272k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 40% of the total. Other salaries and wages came to $20k. At year end it held assets of $156k against liabilities of $0, net assets of $156k.