The Met Development Inc

Analysis

The Met Development Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in December 2019, 7 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 supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Met Development Inc reported income of $1.4m and spending of $1.3m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.0m to $1.4m (-72%), an average of -27% a year. The sharpest change came in the year to December 2021, when income rose by 6063%. Over the whole period it spent 46% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Met Development Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within KY. Charities of a similar size with the same main cause include Bellaire-Puritas Development Corp ($1.4m), The Council of Urban Professionals Institute ($1.4m) and Burroughs Foundation ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $26.1m against liabilities of $20.1m, net assets of $6.0m.