Business Development Corporation of the Northern Panhandle

Analysis

Business Development Corporation of the Northern Panhandle is a registered charity in United States, based in Weirton, WV. It received its IRS tax-exemption ruling in January 1995, 31 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, Business Development Corporation of the Northern Panhandle reported income of $7.2m and spending of $3.2m, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.1m to $7.2m (+76%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 64% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Business Development Corporation of the Northern Panhandle sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within WV. Charities of a similar size with the same main cause include Green View Incorporated ($7.2m), Lean Enterprise Institute Inc ($7.2m) and California Vocations Inc ($7.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $131k (4.1% of expenses). At year end it held assets of $68.6m against liabilities of $58.8m, net assets of $9.8m. It reported 6 employees.