Smart Development Inc

Analysis

Smart Development Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in April 2018, 8 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 2022, Smart Development Inc reported income of $2.0m and spending of $1.7m, spending 85% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $502k to $2.0m (+298%), an average of +58% a year. The sharpest change came in the year to December 2021, when income rose by 94%. 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, Smart Development Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within OH. Charities of a similar size with the same main cause include CFH Inc ($2.0m), Madera Coalition for Community ($2.0m) and Asian Business Institute and Resource Center ($2.0m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $146k (8.6% of expenses). At year end it held assets of $8.2m against liabilities of $1.2m, net assets of $7.0m. It reported 6 employees.