Wilmington Downtown Inc

Analysis

Wilmington Downtown Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in October 1977, 49 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 June 2024, Wilmington Downtown Inc reported income of $1.0m and spending of $917k, spending 91% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $766k to $1.0m (+32%), an average of +7.1% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wilmington Downtown Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Shore Memorial Hospital Workers Compensation Trust ($1.0m), In the Pines Inc ($1.0m) and Erna Jorgensen Charitable Trust 40-10-420-0862500 ($1.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 30% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $73k (7.9% of expenses). At year end it held assets of $1.2m against liabilities of $102k, net assets of $1.1m. It reported 2 employees.