Midland Chamber of Commerce Foundation Inc

Analysis

Midland Chamber of Commerce Foundation Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in December 1987, 39 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 September 2023, Midland Chamber of Commerce Foundation Inc reported income of $819k and spending of $393k, leaving 52% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $14.2m to $819k (-94%), an average of -51% a year. The sharpest change came in the year to September 2022, when income rose by 329%. Over the whole period it spent 13% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Midland Chamber of Commerce Foundation 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 77th percentile, and in the 81st percentile within TX. Charities of a similar size with the same main cause include Returning Home Inc ($819k), East Texas Speakers Forum ($819k) and Cape and Islands Workforce Development Board Inc ($819k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 30% and program service revenue 4.9% of the total. At year end it held assets of $6.9m against liabilities of $19k, net assets of $6.8m.