Havenwoods Economic Developement Corp

Analysis

Havenwoods Economic Developement Corp is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in October 2002, 24 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, Havenwoods Economic Developement Corp reported income of $350k and spending of $502k, spending 144% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $315k to $350k (+11%), an average of +2.7% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Havenwoods Economic Developement Corp sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within WI. Charities of a similar size with the same main cause include Instituto de Competitividad Y Sostenibilidad Economica de Puerto ($350k), Danville-Boyle County Economic Develpment Partnership Inc ($350k) and Heartfelt Tidbits Inc ($349k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $80k (16% of expenses). Other salaries and wages came to $222k. At year end it held assets of $194k against liabilities of $19k, net assets of $175k. It reported 16 employees.