Downtown Hays Development Corporation

Analysis

Downtown Hays Development Corporation is a registered charity in United States, based in Hays, KS. It received its IRS tax-exemption ruling in September 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, Downtown Hays Development Corporation reported income of $171k and spending of $166k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $174k to $171k (-1.9%), an average of -0.5% a year. The sharpest change came in the year to December 2021, when income dropped by 20%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Hays Development Corporation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 49th percentile within KS. Charities of a similar size with the same main cause include Kitchi Gammi Club Foundation Inc ($171k), Cooperation Cannon River ($171k) and Rotary Club of Fort Myers South Foundation Inc ($171k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $63k (38% of expenses). Other salaries and wages came to $4,248. At year end it held assets of $190k against liabilities of $0, net assets of $190k. It reported 4 employees.