Florence Downtown Development Corporation Inc

Analysis

Florence Downtown Development Corporation Inc is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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 June 2023, Florence Downtown Development Corporation Inc reported income of $356k and spending of $376k, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $610k to $356k (-42%), an average of -13% a year. The sharpest change came in the year to June 2022, when income rose by 43%. Over the whole period it spent 93% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Florence Downtown Development Corporation Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 69th percentile within SC. Charities of a similar size with the same main cause include Southeast Alaska Regiona Fisheries Association ($355k), Wood-Pawcatuck Watershed Assoc ($356k) and Northern Neck Land Conservancy Inc ($355k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 77% of the total. At year end it held assets of $1.2m against liabilities of $5,385, net assets of $1.2m.