Waco Chamber of Commerce Community Development Foundation

Analysis

Waco Chamber of Commerce Community Development Foundation is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in September 1992, 34 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Waco Chamber of Commerce Community Development Foundation reported income of $378k and spending of $444k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $281k to $378k (+34%), an average of +7.7% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 118% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Waco Chamber of Commerce Community Development Foundation sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 70th percentile within TX. Charities of a similar size with the same main cause include Maine Womens Lobby Education Fund ($377k), Volunteers Enriching Weld Inc ($378k) and Compassionate Justice ($377k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 37% of the total. At year end it held assets of $2.9m against liabilities of $125k, net assets of $2.8m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.