Danville Area Development Foundation Inc

Organization Overview

Danville Area Development Foundation Inc is located in Danville, VA. The organization was established in 1960. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Danville Area Development Foundation Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 02/2022, Danville Area Development Foundation Inc generated $3.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $645.0 during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (25.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE INDUSTRIAL AND COMMERCIAL GROWTH OF THE CITY OF DANVILLE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION WAS FORMED TO ASSIST & PROMOTE THE INDUSTRIAL & COMMERCIAL DEVELOPMENT OF THE CITY OF DANVILLE & THE IMMEDIATE SURROUNDING COUNTY AREA.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $3,103
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,103

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