Paltown Development Foundation Inc

Analysis

Paltown Development Foundation Inc is a registered charity in United States, based in Edgewater, MD. It received its IRS tax-exemption ruling in September 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Paltown Development Foundation Inc reported income of $705k and spending of $780k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $428k to $705k (+65%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Paltown Development Foundation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MD. Charities of a similar size with the same main cause include Extremely Precious Moments Inc ($705k), Arc Ministry Inc ($705k) and Love the Nations Inc ($705k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $201k (26% of expenses). Other salaries and wages came to $56k. At year end it held assets of $217k against liabilities of $13k, net assets of $204k. It reported 3 employees.