Williamsburg County Development Corporation

Analysis

Williamsburg County Development Corporation is a registered charity in United States, based in Kingstree, SC. It received its IRS tax-exemption ruling in November 1997, 29 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, Williamsburg County Development Corporation reported income of $426k and spending of $620k, spending 146% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.6m to $426k (-73%), an average of -35% a year. The sharpest change came in the year to December 2020, when income dropped by 71%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Williamsburg County Development Corporation sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 72nd percentile within SC. Charities of a similar size with the same main cause include Henry Development Foundation Inc ($426k), Urban Ed Inc ($426k) and Black Dollar Days Task Force ($426k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 39% and program service revenue 61% of the total. At year end it held assets of $11.3m against liabilities of $5.0m, net assets of $6.3m.

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.