Morehead Rowan County Industrial Development Authority Inc

Analysis

Morehead Rowan County Industrial Development Authority Inc is a registered charity in United States, based in Morehead, KY. It received its IRS tax-exemption ruling in May 1994, 32 years ago. 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 2022, Morehead Rowan County Industrial Development Authority Inc reported income of $320k and spending of $5,400, leaving 98% of income unspent that year. Across the 3 years on record, from June 2020 to June 2022, income grew from $245k to $320k (+30%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 305%. Over the whole period it spent 18% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Morehead Rowan County Industrial Development Authority Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within KY. Charities of a similar size with the same main cause include Pembroke Pines Charter School Foundaton Inc ($320k), Piqua Library Assistance and Development Fund ($320k) and Texas South Plains Honor Flight ($320k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.7m against liabilities of $0, net assets of $1.7m.