The Development Corporation of Knox County Tennessee

Analysis

The Development Corporation of Knox County Tennessee is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in December 1990, 36 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 2023, The Development Corporation of Knox County Tennessee reported income of $633k and spending of $2.1m, spending 335% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.7m to $633k (-63%), an average of -22% a year. The sharpest change came in the year to June 2023, when income dropped by 63%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Development Corporation of Knox County Tennessee sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within TN. Charities of a similar size with the same main cause include New Mexico Community Health Worker Association ($632k), Central Community Development Corporation ($633k) and Dress for Success Southern Nevada ($632k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 34% of the total. Other salaries and wages came to $34k. At year end it held assets of $42.5m against liabilities of $650k, net assets of $41.9m. It reported 1 employees.