Charlestown Economic Development Corp

Analysis

Charlestown Economic Development Corp is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in December 1980, 46 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Charlestown Economic Development Corp reported income of $1.2m and spending of $1.1m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.2m (+18%), an average of +4.2% a year. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Charlestown Economic Development Corp 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 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Boles Childrens Home Inc ($1.2m), Riverside Park Methodist Apartments Inc ($1.2m) and Teamsters Assistance Programs Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 18% of the total. At year end it held assets of $4.9m against liabilities of $4.3m, net assets of $675k.