Dan River Business Development Center

Analysis

Dan River Business Development Center is a registered charity in United States, based in Danville, VA. It received its IRS tax-exemption ruling in January 2000, 26 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, Dan River Business Development Center reported income of $599k and spending of $580k, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $599k (-53%), an average of -17% a year. The sharpest change came in the year to June 2022, when income rose by 75%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Dan River Business Development Center sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within VA. Charities of a similar size with the same main cause include East Market Street Development Corporation ($599k), Jackson County Industrial Development Corporation ($599k) and Women in Etfs Inc ($599k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. At year end it held assets of $503k against liabilities of $9,096, net assets of $494k. It reported 3 employees.