Downtown Goldsboro Development Corp

Analysis

Downtown Goldsboro Development Corp is a registered charity in United States, based in Goldsboro, NC. It received its IRS tax-exemption ruling in April 1980, 46 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 2024, Downtown Goldsboro Development Corp reported income of $210k and spending of $182k, spending 87% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $210k to $210k (+0.2%), an average of +0.0% a year. The sharpest change came in the year to June 2024, when income rose by 48%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Goldsboro Development Corp sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NC. Charities of a similar size with the same main cause include Osgood Beautification & Main St Development Foundation Inc ($210k), Renton Rotary Caper Inc ($210k) and North Shore Evp ($210k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 40% and program service revenue 31% of the total. At year end it held assets of $977k against liabilities of $404k, net assets of $572k.