Mount Vernon Downtown Association

Analysis

Mount Vernon Downtown Association is a registered charity in United States, based in Mount Vernon, WA. It received its IRS tax-exemption ruling in July 2014, 12 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, Mount Vernon Downtown Association reported income of $280k and spending of $392k, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $193k to $280k (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Mount Vernon Downtown Association sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within WA. Charities of a similar size with the same main cause include Cornucopia Inc ($280k), Piedmont Journalism Foundation ($280k) and Alliance for Rural Impact ($280k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $64k (16% of expenses). Other salaries and wages came to $112k. At year end it held assets of $180k against liabilities of $111k, net assets of $68k. It reported 3 employees.