Titusville Development Corporation Inc

Analysis

Titusville Development Corporation Inc is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in July 1988, 38 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 December 2023, Titusville Development Corporation Inc reported income of $735k and spending of $720k, spending 98% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $190k to $735k (+287%), an average of +31% a year. The sharpest change came in the year to December 2019, when income rose by 186%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Titusville Development Corporation Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within AL. Charities of a similar size with the same main cause include The Council Foundation ($735k), Foundation for Ichthyosis and Related Skin Types ($735k) and Palm Beach Country Club Foundation Inc ($735k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $47k (6.5% of expenses). Other salaries and wages came to $59k. At year end it held assets of $2.0m against liabilities of $167k, net assets of $1.8m. It reported 3 employees.