Fort Worth Local Development Corporation

Analysis

Fort Worth Local Development Corporation is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in March 1989, 37 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3).

In the financial year ending September 2023, Fort Worth Local Development Corporation reported income of $227k and spending of $1.3m, spending 573% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.4m to $227k (-83%), an average of -36% a year. The sharpest change came in the year to September 2021, when income rose by 600%. Over the whole period it spent 56% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fort Worth Local Development Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 60th percentile within TX. Charities of a similar size with the same main cause include Northwest Montana Historical Society Inc ($227k), PTA Florida Congress ($227k) and Creative Alternatives Senior Citizen Opportunities ($227k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 1.8% of the total. At year end it held assets of $9.2m against liabilities of $3,150, net assets of $9.2m.