Development Ventures Incorporated

Analysis

Development Ventures Incorporated is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in October 1986, 40 years ago. 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, Development Ventures Incorporated reported income of $551k and spending of $732k, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $186k to $551k (+195%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 125%. Over the whole period it spent 171% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Development Ventures Incorporated 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 72nd percentile, and in the 71st percentile within NC. Charities of a similar size with the same main cause include National Lymphedema Network Inc ($550k), Catholic Social Services of Montana Inc ($551k) and Vergennes Area Rescue Squad ($550k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $106k. At year end it held assets of $12.7m against liabilities of $1.6m, net assets of $11.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.