Midtown Improvement and Development Corporation

Analysis

Midtown Improvement and Development Corporation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in December 2015, 11 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Midtown Improvement and Development Corporation reported income of $1.9m and spending of $2.5m, spending 134% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.4m to $1.9m (+34%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 164% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Midtown Improvement and Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include 150 Hooper Inc ($1.9m), Tampa Bay Wave Inc ($1.9m) and Better Atx ($1.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 82% of the total. Other salaries and wages came to $519k. At year end it held assets of $1.2m against liabilities of $272k, net assets of $901k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.