Fayette County Local Development Corporation

Analysis

Fayette County Local Development Corporation is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in February 1986, 40 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Fayette County Local Development Corporation reported income of $671k and spending of $692k, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $549k to $671k (+22%), an average of +5.1% a year. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fayette County Local Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within KY. Charities of a similar size with the same main cause include Western Winter Workshop Inc ($671k), Native American Training Institute ($671k) and Change Please USA Inc ($671k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.7% and program service revenue 74% of the total. At year end it held assets of $7.3m against liabilities of $6.1m, net assets of $1.2m.