Burlington Development Corporation

Analysis

Burlington Development Corporation is a registered charity in United States, based in Burlington, NC. It received its IRS tax-exemption ruling in March 2000, 26 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Burlington Development Corporation reported income of $152k and spending of $188k, spending 124% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $153k to $152k (-0.8%), an average of -0.2% a year. The sharpest change came in the year to September 2021, when income rose by 139%. Over the whole period it spent 70% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Burlington Development Corporation sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 45th percentile within NC. Charities of a similar size with the same main cause include Woodside Haven Incorporated ($152k), Msaa Jacksonville Inc ($152k) and McAullife Apartments Inc ($152k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 85% of the total. Other salaries and wages came to $73k. At year end it held assets of $13.8m against liabilities of $92k, net assets of $13.7m.