Monadnock Economic Development Corporation

Analysis

Monadnock Economic Development Corporation is a registered charity in United States, based in Keene, NH. It received its IRS tax-exemption ruling in September 1986, 40 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 June 2023, Monadnock Economic Development Corporation reported income of $1.7m and spending of $2.2m, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.8m to $1.7m (-38%), an average of -11% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 136% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Monadnock Economic Development Corporation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NH. Charities of a similar size with the same main cause include Grand Forks Growth and Support Center ($1.7m), Jobone Careers ($1.7m) and No Boundaries Coalition Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.7% and program service revenue 100% of the total. At year end it held assets of $41.5m against liabilities of $43.9m, net assets of -$2.5m. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.