Downtown Gadsden Inc

Analysis

Downtown Gadsden Inc is a registered charity in United States, based in Gadsden, AL. It received its IRS tax-exemption ruling in January 1994, 32 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 December 2023, Downtown Gadsden Inc reported income of $202k and spending of $203k, spending 101% of its income. Across the 3 years on record, from December 2019 to December 2023, income fell from $219k to $202k (-7.9%), an average of -4.0% a year. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Gadsden Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 55th percentile within AL. Charities of a similar size with the same main cause include Southeast Fairfax Development Corporation ($201k), Hammonton Revitalization Corporation ($202k) and Womans Club of Winter Park Inc ($201k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $83k (41% of expenses). Other salaries and wages came to $21k. At year end it held assets of $76k against liabilities of $3,464, net assets of $73k. It reported 2 employees.