Waco Community Development Corporation

Analysis

Waco Community Development Corporation is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in August 2001, 25 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, Waco Community Development Corporation reported income of $939k and spending of $927k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $576k to $939k (+63%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Waco Community Development Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Black Chamber of Commerce of Maryland ($939k), Farmers Market Coalition ($939k) and Citizens Utility Board Inc Cub ($938k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $116k (12% of expenses). Other salaries and wages came to $269k. At year end it held assets of $1.2m against liabilities of $841k, net assets of $318k. It reported 8 employees.