Waterloo Development Corporation

Analysis

Waterloo Development Corporation is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in September 2000, 26 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, Waterloo Development Corporation reported income of $694k and spending of $167k, leaving 76% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $77k to $694k (+803%), an average of +73% a year. The sharpest change came in the year to December 2022, when income rose by 609%. Over the whole period it spent 51% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Waterloo Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within IA. Charities of a similar size with the same main cause include Vine Street Community Center Council Inc ($694k), Bread Project ($694k) and Presidents Council Foundation Inc ($693k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m.