Hudson Valley Agri-Business Development Corporation

Analysis

Hudson Valley Agri-Business Development Corporation is a registered charity in United States, based in Hudson, NY. It received its IRS tax-exemption ruling in January 2021, 5 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, Hudson Valley Agri-Business Development Corporation reported income of $1.2m and spending of $771k, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $679k to $1.2m (+76%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 78%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hudson Valley Agri-Business Development Corporation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include The Blessing Projects ($1.2m), Missoula Community Foundation ($1.2m) and Cayuga County Convention and Visitors Bureau Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $132k (17% of expenses). Other salaries and wages came to $212k. At year end it held assets of $3.0m against liabilities of $2.0m, net assets of $992k. It reported 8 employees.