Jacksonville Development Corporation

Analysis

Jacksonville Development Corporation is a registered charity in United States, based in Jacksonville, TX. It received its IRS tax-exemption ruling in September 1997, 29 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, Jacksonville Development Corporation reported income of $2.0m and spending of $985k, leaving 51% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.4m to $2.0m (+48%), an average of +10% a year. The sharpest change came in the year to September 2022, when income rose by 38%. Over the whole period it spent 68% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Jacksonville Development Corporation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include Chpa Educational Foundation ($2.0m), The Northeast Ohio Hispanic Center for Economic Development ($2.0m) and Delray United Action Council ($2.0m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 83% of the total. Compensation of current officers, directors and key employees was $136k (14% of expenses). Other salaries and wages came to $64k. At year end it held assets of $9.8m against liabilities of $1.2m, net assets of $8.7m.