Roanoke Foundation for Downtown Inc

Analysis

Roanoke Foundation for Downtown Inc is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in August 1993, 33 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, Roanoke Foundation for Downtown Inc reported income of $114k and spending of $132k, spending 115% of what it took in. Across the 3 years on record, from June 2020 to June 2023, income grew from $63k to $114k (+80%), an average of +34% a year. The sharpest change came in the year to June 2023, when income rose by 602%. Over the whole period it spent 160% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Roanoke Foundation for Downtown Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 40th percentile within VA. Charities of a similar size with the same main cause include Grace and Peace Community Ministries ($114k), Finsocial Foundation Corp ($114k) and Community Economics Laboratory ($114k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 81% of the total. At year end it held assets of $307k against liabilities of $0, net assets of $307k.