Wichita Downtown Development Corporation

Analysis

Wichita Downtown Development Corporation is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in April 2002, 24 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 2023, Wichita Downtown Development Corporation reported income of $935k and spending of $913k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $857k to $935k (+9.0%), an average of +2.2% a year. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wichita Downtown Development Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within KS. Charities of a similar size with the same main cause include Leatherstocking Education on Alcoholism Addictns Foundation Inc ($934k), Center for Independent Employees ($935k) and Cyt Lafayette Inc ($934k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $121k (13% of expenses). Other salaries and wages came to $197k. At year end it held assets of $539k against liabilities of $167k, net assets of $372k. It reported 4 employees.