Webster Area Development Corporation Inc

Analysis

Webster Area Development Corporation Inc is a registered charity in United States, based in Webster, SD. It received its IRS tax-exemption ruling in December 1995, 31 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, Webster Area Development Corporation Inc reported income of $821k and spending of $106k, leaving 87% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $203k to $821k (+304%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 923%. Over the whole period it spent 41% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Webster Area Development Corporation Inc 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 77th percentile, and in the 76th percentile within SD. Charities of a similar size with the same main cause include Chapel Hill Downtown Partnership Inc ($821k), Nedc Riverfront Corp ($822k) and Bright Star Scanning Services Corp ($821k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.9% of the total. Other salaries and wages came to $42k. At year end it held assets of $2.4m against liabilities of $435, net assets of $2.4m. It reported 1 employees.