Well Community Development Corporation

Analysis

Well Community Development Corporation is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in January 2017, 9 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, Well Community Development Corporation reported income of $5.1m and spending of $2.5m, leaving 51% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.4m to $5.1m (+111%), an average of +20% a year. The sharpest change came in the year to December 2023, when income rose by 107%. Over the whole period it spent 51% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Well Community Development Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Rowan Vocational Opportunities Inc ($5.1m), Michigan State Afl-Cio Human Resources Development Inc ($5.1m) and Twin Rivers Developmental Supports Inc ($5.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $122k (4.9% of expenses). Other salaries and wages came to $770k. At year end it held assets of $10.6m against liabilities of $2.9m, net assets of $7.7m. It reported 41 employees.