Newark Development Partners

Analysis

Newark Development Partners is a registered charity in United States, based in Newark, OH. It received its IRS tax-exemption ruling in November 2013, 13 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, Newark Development Partners reported income of $3.3m and spending of $1.2m, leaving 64% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $761k to $3.3m (+334%), an average of +44% a year. The sharpest change came in the year to December 2023, when income rose by 281%. Over the whole period it spent 20% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Newark Development Partners sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include Japanese American Citizens League ($3.3m), Missouri Jobs with Justice ($3.3m) and Eastern Iowa Workforce Development Inc ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $163k (14% of expenses). Other salaries and wages came to $40k. At year end it held assets of $14.5m against liabilities of $664k, net assets of $13.8m. It reported 2 employees.