Regional Development Corporation

Analysis

Regional Development Corporation is a registered charity in United States, based in Santa Fe, NM. It received its IRS tax-exemption ruling in May 1998, 28 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 2023, Regional Development Corporation reported income of $1.1m and spending of $1.1m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $1.1m (-11%), an average of -2.8% a year. The sharpest change came in the year to June 2020, when income dropped by 28%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Regional Development Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within NM. Charities of a similar size with the same main cause include Hopexchange Inc ($1.1m), Cuming County Economic Development Inc ($1.1m) and Kiwanis Activities of Little Rock ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $152k (14% of expenses). Other salaries and wages came to $133k. At year end it held assets of $1.6m against liabilities of $177k, net assets of $1.4m. It reported 5 employees.