Twelfth Street Heritage Development Corp

Analysis

Twelfth Street Heritage Development Corp is a registered charity in United States, based in Kansas City, MO. It received its IRS tax-exemption ruling in May 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 (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, Twelfth Street Heritage Development Corp reported income of $784k and spending of $759k, spending 97% of its income. Across the 6 years on record, from May 2019 to December 2023, income grew from $432k to $784k (+81%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 67%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Twelfth Street Heritage Development Corp sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within MO. Charities of a similar size with the same main cause include Spartanburg Recreational Facilities Corporation ($783k), Downtown Community Partnership Bid ($784k) and Hope Village Revitalization ($783k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $110k (14% of expenses). Other salaries and wages came to $386k. At year end it held assets of $47k against liabilities of $0, net assets of $47k. It reported 14 employees.