Morningstars Development Company Inc

Analysis

Morningstars Development Company Inc is a registered charity in United States, based in Kansas City, MO. It received its IRS tax-exemption ruling in January 2004, 22 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, Morningstars Development Company Inc reported income of $667k and spending of $390k, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $111k to $667k (+502%), an average of +57% a year. The sharpest change came in the year to December 2023, when income rose by 278%. Over the whole period it spent 113% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Morningstars Development Company Inc 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 74th percentile, and in the 72nd percentile within MO. Charities of a similar size with the same main cause include Chattanooga Design Studio ($667k), Pennsyvania State Association of County Fairs ($667k) and Retail Arts Innovation & Livability Community Development Corporation ($666k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $7,175 (1.8% of expenses). At year end it held assets of $4.2m against liabilities of $0, net assets of $4.2m.