Digitalc

Analysis

Digitalc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in May 2016, 10 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, Digitalc reported income of $12.8m and spending of $6.9m, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $12.8m (+413%), an average of +50% a year. The sharpest change came in the year to December 2020, when income rose by 74%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Digitalc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within OH. Charities of a similar size with the same main cause include Southwest Florida Workforce Development Board Inc ($12.8m), Loomis Senior Living Inc ($12.8m) and Foundation for Sustainable Community ($12.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $779k (11% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $13.3m against liabilities of $6.5m, net assets of $6.7m. It reported 48 employees.