Developing Potential Inc

Analysis

Developing Potential Inc is a registered charity in United States, based in Lees Summit, MO. It received its IRS tax-exemption ruling in July 1994, 32 years ago. Its declared purposes cover employment, 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, Developing Potential Inc reported income of $5.6m and spending of $3.8m, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.1m to $5.6m (+9.2%), an average of +2.2% a year. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 67% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Developing Potential Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within MO. Charities of a similar size with the same main cause include BGV Foundation ($5.6m), Just Community Inc ($5.6m) and North Platte Opportunity Corporation ($5.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.7% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $227k (5.9% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $12.2m against liabilities of $609k, net assets of $11.6m. It reported 59 employees.