Downtown Lynchburg Association

Analysis

Downtown Lynchburg Association is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in September 1997, 29 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 December 2023, Downtown Lynchburg Association reported income of $744k and spending of $670k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $348k to $744k (+114%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 57%. 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 Lynchburg Association 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 Downtown Hampton Development Partnership Inc ($743k), City Impact ($745k) and Federal Hill Commerce Association Inc ($743k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 36% of the total. Other salaries and wages came to $325k. At year end it held assets of $634k against liabilities of $280k, net assets of $354k. It reported 4 employees.