Old Takoma Business Association Inc

Analysis

Old Takoma Business Association Inc is a registered charity in United States, based in Takoma Park, MD. It received its IRS tax-exemption ruling in August 2004, 22 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, Old Takoma Business Association Inc reported income of $341k and spending of $271k, leaving 21% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $190k to $341k (+80%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 162%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Old Takoma Business Association Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within MD. Charities of a similar size with the same main cause include Gateway to Leadership ($341k), Custer 2020 Inc ($341k) and Innovative Opportunities Inc ($341k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $98k (36% of expenses). At year end it held assets of $418k against liabilities of $692, net assets of $417k. It reported 1 employees.