Hartford Area Development Foundation

Analysis

Hartford Area Development Foundation is a registered charity in United States, based in Hartford, SD. It received its IRS tax-exemption ruling in December 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, Hartford Area Development Foundation reported income of $750k and spending of $245k, leaving 67% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $463k to $750k (+62%), an average of +17% a year. The sharpest change came in the year to December 2022, when income rose by 429%. Over the whole period it spent 18% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hartford Area Development Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within SD. Charities of a similar size with the same main cause include PCC Stride Inc ($750k), Fort Worth Now ($750k) and Town Center Inc ($750k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 38% of the total. Other salaries and wages came to $4,421. At year end it held assets of $6.2m against liabilities of $3.0m, net assets of $3.1m. It reported 1 employees.