Rural Development Corp

Analysis

Rural Development Corp is a registered charity in United States, based in Vineland, NJ. It received its IRS tax-exemption ruling in July 1976, 50 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, Rural Development Corp reported income of $5.6m and spending of $4.3m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $5.6m (+109%), an average of +20% a year. The sharpest change came in the year to December 2023, when income rose by 74%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rural Development Corp sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Goodwill Industries of the Coastal Empire Inc ($5.6m), Teamwork Englewood ($5.6m) and Arrow Child & Family Ministries ($5.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Other salaries and wages came to $936k. At year end it held assets of $4.4m against liabilities of $1.7m, net assets of $2.7m. It reported 59 employees.