Education Development Center Inc

Analysis

Education Development Center Inc is a registered charity in United States, based in Waltham, MA. It received its IRS tax-exemption ruling in May 1960, 66 years ago. 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 September 2023, Education Development Center Inc reported income of $201.5m and spending of $192.6m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $161.9m to $201.5m (+24%), an average of +5.6% a year. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Education Development Center Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Howard Brown Health Center ($201.2m), University of B C Pension Plan for Members of the Academic Staff ($205.4m) and Catholic Health System Inc ($198.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $3.7m (1.9% of expenses). Other salaries and wages came to $73.5m. At year end it held assets of $116.9m against liabilities of $63.7m, net assets of $53.2m. It reported 765 employees.