Western Colorado Business Development Corp

Analysis

Western Colorado Business Development Corp is a registered charity in United States, based in Grand JCT, CO. It received its IRS tax-exemption ruling in September 1998, 28 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, Western Colorado Business Development Corp reported income of $1.8m and spending of $1.5m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $1.8m (+9.1%), an average of +2.2% a year. The sharpest change came in the year to December 2020, when income rose by 48%. Over the whole period it spent 77% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Western Colorado Business Development Corp sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within CO. Charities of a similar size with the same main cause include Startx ($1.8m), Wind River Development Fund ($1.8m) and Icw Vocational Services Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $127k (8.2% of expenses). Other salaries and wages came to $535k. At year end it held assets of $8.2m against liabilities of $182k, net assets of $8.0m. It reported 16 employees.