Downtown Tempe Foundation

Analysis

Downtown Tempe Foundation is a registered charity in United States, based in Tempe, AZ. It received its IRS tax-exemption ruling in September 2009, 17 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Downtown Tempe Foundation reported income of $1.0m and spending of $977k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $314k to $1.0m (+228%), an average of +35% a year. The sharpest change came in the year to June 2022, when income rose by 700%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Tempe Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within AZ. Charities of a similar size with the same main cause include Neighborhood Housing Partnership of Greater Springfield Inc ($1.0m), Pennsylvania Stands Up Institute ($1.0m) and South LA Community Foundation ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 34% and program service revenue 65% of the total. At year end it held assets of $19k against liabilities of $22k, net assets of -$3,424.