Downtown Hampton Development Partnership Inc

Analysis

Downtown Hampton Development Partnership Inc is a registered charity in United States, based in Hampton, VA. It received its IRS tax-exemption ruling in August 1996, 30 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Downtown Hampton Development Partnership Inc reported income of $743k and spending of $736k, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $717k to $743k (+3.7%), an average of +1.2% a year. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Hampton Development Partnership Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Federal Hill Commerce Association Inc ($743k), Downtown Lynchburg Association ($744k) and Insight Enterprises Inc ($743k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $132k (18% of expenses). Other salaries and wages came to $151k. At year end it held assets of $1.1m against liabilities of $73k, net assets of $992k. It reported 9 employees.