Florence Downtown Development Corporation Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2021 | 244,033 | 141,361 | 102,672 | 107.1 | 0% |
| 2022 | 349,597 | 375,278 | −25,681 | 39.5 | 0% |
| 2023 | 355,786 | 376,035 | −20,249 | 38.8 | 0% |
In its most recent public year (2023), this organization spent $20,249 more than it brought in. Its reserves stood at about 38.8 months of spending, down from 107.1 in 2021. Staff pay was 0% of spending. $408,211 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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