Downtown Phoenix Inc

Analysis

Downtown Phoenix Inc is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in September 1991, 35 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, Downtown Phoenix Inc reported income of $5.5m and spending of $5.3m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.2m to $5.5m (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2022, when income rose by 53%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Phoenix Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within AZ. Charities of a similar size with the same main cause include FCLT Co ($5.5m), Valeo Vocation ($5.5m) and Western South Dakota Community Action Inc ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $248k (4.6% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $3.4m against liabilities of $1.1m, net assets of $2.3m. It reported 69 employees.