Manchester Development Corporation: Nonprofit Profile, Financials & Form 990 (EIN 02-0372894)

Revenue by fiscal year
FY2020	$85K
FY2021	$48K
FY2022	$43K
FY2023	$95K
FY2024	$141K
FY2025	$136K

Expenses by fiscal year
FY2020	$348K
FY2021	$26K
FY2022	$4K
FY2023	$103K
FY2024	$5K
FY2025	$76K

Net assets by fiscal year
FY2020	$4.0M
FY2021	$4.1M
FY2022	$4.1M
FY2023	$4.1M
FY2024	$4.2M
FY2025	$4.3M

Manchester Development Corporation Form 990 (PDF) Claim this org

Form 990 (PDF) Claim this org

Status and standing

Is it real, and can you give to it?

Tax-deductible?

Per the IRS master file.

Can I give now?

No revocation on IRS record

Not on the IRS revocation list.

Filing up to date?

Filed FY2025 (typical filing lag)

Legal name (IRS)Hdr · item CManchester Development Corporation

EINHdr · item D02-0372894

Exempt statusHdr · item I501(c)(4) · active

Ruling yearIRS BMFNov 1984

Latest filingForm 990FY2025 · Form 990

Principal addressHdr · item CManchester, NH

NTEE classificationIRS BMFNonprofit

WebsiteHdr · item Jwww.manchesternh.gov

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

95%

Program services $0.95 Management & general $0.05

Program services95%$72K

Management & general5%$4K

Total functional expensesLn 25$76K

Financial health

Is it on solid ground?

Operating surplus

+44%

revenue over expenses▼ -54% vs prior filing year

Earned revenue

27%

of revenue from program services & dues▼ -0.7% vs prior filing year

Program spending

95%

of expenses reach member services▲ +34% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990

Total assets

$4.3M

FY2025▲ +1%

Total assets by fiscal year
FY2020	$4.0M
FY2021	$4.1M
FY2022	$4.1M
FY2023	$4.1M
FY2024	$4.2M
FY2025	$4.3M

Total liabilities

FY2025▼ -100%

Total liabilities by fiscal year
FY2020	$0
FY2021	$0
FY2022	$0
FY2023	$0
FY2024	$1K
FY2025	$0

Revenue less expensesPt I · Ln 19$60K

Total assetsPt X · Ln 16$4.3M

Program-expense ratioPt IX · col B95%

Voting members of governing bodyPt I · Ln 312

Independent voting membersPt I · Ln 412

Balance Sheet

Part X · end of year

CashLn 1$1.4M

Total assetsLn 16$4.3M

Total liabilitiesLn 26$0

Total net assetsLn 32$4.3M

Months of cash on handcomputed217.8

Statement of Revenue

Part VIII

Investment income$100K · 73%

Program service revenue$36K · 27%

Investment income73%$100K

Program service revenue27%$36K

Total revenueLn 12$136K

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $2.5M · Operating expenses/yr $76K

400.4 months

Where the money goes

Program services

Program services $72K · Total expenses $76K

95%

Management & General

Management & general $4K · Total expenses $76K

Fundraising

Fundraising $0 · Total expenses $76K

Cost to raise $1

Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $0 · Total revenue $136K

Government reliance

Government grants — · Total revenue $136K

—

Earned-income share

Program service revenue $36K · Total revenue $136K

27%

Investment reliance

Investment income $100K · Total revenue $136K

+73%

Program self-sufficiency

Program service revenue $36K · Total expenses $76K

48%

Growth & trend

Revenue growth (YoY)

This year $136K · Prior year $141K

-4%

Revenue CAGR

FY2019 $85K · FY2024 $136K

+10%

Net-asset trend (YoY)

End of year $4.3M · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $136K · Expenses $76K

+44%

Liabilities-to-Assets

Total liabilities — · Total assets $4.3M

—

Net-asset ratio

Net assets $4.3M · Total assets $4.3M

100%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) $1.1M · Other securities (Pt X, ln 12) $45K · Total assets (Pt X, ln 16) $4.3M

27%

People & payroll

Highest Reported Total Compensation

Individual Amy Chhom · Reported title CHAIR · Highest reported compensation $0 · Total expenses $76K

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $76K

—

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	95%	—	—
Overhead ratio	5%	—	—
Revenue growth	-4%	—	—
Legal fee ratio	3%	—	—
Accounting fee ratio	2%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Amy Chhom

Chair

$0Pt VII · Sec A

Michael Harrington

Vice Chair

$0Pt VII · Sec A

Maria Mongan

Secretary

$0Pt VII · Sec A

Steve F Scheiner

Treasurer

$0Pt VII · Sec A

Kyle Baker

Member

$0Pt VII · Sec A

Andrew Leach

Member

$0Pt VII · Sec A

Heather McGrail

Member

$0Pt VII · Sec A

Rebecca Kane

Member

$0Pt VII · Sec A

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Governance & Policies

Part VI

12Voting board membersPt VI · Ln 1a
12Independent board membersPt VI · Ln 1b
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
Top official’s pay independently reviewedPt VI · Ln 15aNo
Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Boosts Manchester's economy through development services.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $72K of program spending, described in the organization's own filed words · FY2024.

Grants

$50Kprogram expense

Economic development

$22Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 2 grants · $150K · 2022–2024

City of ManchesterFY2024$50,000

Manchester Boston Regional AirportFY2022$100,000

Filing history

Every return on file.

Year	Revenue	Expenses	Change	Filing
FY2025 Latest Viewing	$136K	$76K	-4%	990 PDF
FY2024	$141K	$5K	+48%	990 PDF
FY2023	$95K	$103K	+120%	990 PDF
FY2022	$43K	$4K	-10%	990 PDF
FY2021	$48K	$26K	-43%	990 PDF
FY2020	$85K	$348K		990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2025IRS

Classification, formation year, addressIRS Business Master File

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