Greater New Martinsville Development Corporation

Analysis

Greater New Martinsville Development Corporation is a registered charity in United States, based in N Martinsvlle, WV. It received its IRS tax-exemption ruling in August 1989, 37 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 2022, Greater New Martinsville Development Corporation reported income of $129k and spending of $119k, spending 92% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $175k to $129k (-26%), an average of -9.8% a year. The sharpest change came in the year to December 2021, when income rose by 74%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater New Martinsville Development Corporation sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 40th percentile within WV. Charities of a similar size with the same main cause include Junior League of McAllen Inc ($129k), Vale Fourth Inc ($129k) and Jesse Tree Inc ($129k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 34% and program service revenue 23% of the total. Other salaries and wages came to $44k. At year end it held assets of $398k against liabilities of $7,910, net assets of $390k. It reported 3 employees.