Durham Exchange Club Industries Inc

Analysis

Durham Exchange Club Industries Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in June 1967, 59 years ago. Its declared purposes cover employment, 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 2024, Durham Exchange Club Industries Inc reported income of $7.5m and spending of $6.0m, spending 81% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $7.2m to $7.5m (+3.5%), an average of +0.9% a year. The sharpest change came in the year to June 2021, when income dropped by 18%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Durham Exchange Club Industries Inc 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 95th percentile within NC. Charities of a similar size with the same main cause include Clean & Safe Inc ($7.4m), Southern Carolina Regional Development Alliance ($7.5m) and Community Development Project Inc ($7.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.1% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $650k (11% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $28.1m against liabilities of $790k, net assets of $27.4m. It reported 220 employees.