Downtown Worcester Business Improvement District Inc

Analysis

Downtown Worcester Business Improvement District Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in October 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 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 June 2024, Downtown Worcester Business Improvement District Inc reported income of $1.3m and spending of $1.3m, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $483k to $1.3m (+172%), an average of +22% a year. The sharpest change came in the year to June 2020, when income rose by 112%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Worcester Business Improvement District Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Boys Shelter Inc ($1.3m), Black Brand ($1.3m) and Womens Civic Improvement Club of Sacramento ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 8.6% and program service revenue 91% of the total. Other salaries and wages came to $270k. At year end it held assets of $1.2m against liabilities of $187k, net assets of $978k. It reported 4 employees.