Development Corporation of Columbia Heights Inc

Analysis

Development Corporation of Columbia Heights Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 1988, 38 years ago. 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, Development Corporation of Columbia Heights Inc reported income of $660k and spending of $704k, spending 107% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $1.1m to $660k (-40%), an average of -9.7% a year. The sharpest change came in the year to December 2022, when income rose by 85%. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Development Corporation of Columbia Heights Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 48th percentile within DC. Charities of a similar size with the same main cause include St Athanasius Academy of Orthodox Theology ($660k), Midland County Food Assistance Netw Ork ($660k) and The Dawn Redwoods Charitable Trust ($660k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $83k (12% of expenses). Other salaries and wages came to $178k. At year end it held assets of $3.2m against liabilities of $1.8m, net assets of $1.4m. It reported 5 employees.