Valley Shenango Economic Development Corporation

Analysis

Valley Shenango Economic Development Corporation is a registered charity in United States, based in Sharon, PA. It received its IRS tax-exemption ruling in May 2009, 17 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, Valley Shenango Economic Development Corporation reported income of $863k and spending of $664k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $144k to $863k (+499%), an average of +56% a year. The sharpest change came in the year to December 2021, when income rose by 427%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Valley Shenango Economic Development Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 76th percentile within PA. Charities of a similar size with the same main cause include MRM North Campus Inc ($863k), Yakima County Development Association ($864k) and Lawrenceville Development Corporation ($863k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. At year end it held assets of $7.9m against liabilities of $7.6m, net assets of $335k.