Delaware Technology Park Inc

Analysis

Delaware Technology Park Inc is a registered charity in United States, based in Newark, DE. It received its IRS tax-exemption ruling in June 2000, 26 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 June 2023, Delaware Technology Park Inc reported income of $5.2m and spending of $6.4m, spending 123% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.5m to $5.2m (+16%), an average of +3.8% a year. The sharpest change came in the year to June 2023, when income rose by 33%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Delaware Technology Park Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within DE. Charities of a similar size with the same main cause include Neighborhood Community Development Fund ($5.2m), Vineland Development Corporation ($5.2m) and Neighboorhood Allies Inc ($5.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $75k (1.2% of expenses). At year end it held assets of $56.9m against liabilities of $59.6m, net assets of -$2.6m.

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.