Downtown Wichita Falls Development Inc

Analysis

Downtown Wichita Falls Development Inc is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in August 2000, 26 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, Downtown Wichita Falls Development Inc reported income of $360k and spending of $360k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $371k to $360k (-3.2%), an average of -0.8% a year. The sharpest change came in the year to December 2020, when income dropped by 33%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Wichita Falls Development Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 69th percentile within TX. Charities of a similar size with the same main cause include Openstreetmap United States Inc ($360k), Ncwedd ($360k) and Main Street Vermilion Inc ($359k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $113k (32% of expenses). At year end it held assets of $429k against liabilities of $91k, net assets of $338k. It reported 3 employees.