Madisonville-Hopkins County Development Corporation

Analysis

Madisonville-Hopkins County Development Corporation is a registered charity in United States, based in Madisonville, KY. It received its IRS tax-exemption ruling in November 1995, 31 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 2024, Madisonville-Hopkins County Development Corporation reported income of $642k and spending of $548k, spending 85% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $562k to $642k (+14%), an average of +2.7% a year. The sharpest change came in the year to June 2020, when income rose by 109%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Madisonville-Hopkins County Development Corporation 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 74th percentile within KY. Charities of a similar size with the same main cause include Metropolitan Housing Development Corporation ($642k), Chinatown International District ($642k) and Sync Space Entrepreneur Center ($641k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 80% and program service revenue 11% of the total. Other salaries and wages came to $145k. At year end it held assets of $3.6m against liabilities of $2,947, net assets of $3.6m. It reported 4 employees.