The Resource Inc for Community and Economic Development

Analysis

The Resource Inc for Community and Economic Development is a registered charity in United States, based in South Yarmouth, MA. It received its IRS tax-exemption ruling in May 1994, 32 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, The Resource Inc for Community and Economic Development reported income of $4.3m and spending of $4.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $4.3m (+54%), an average of +11% a year. The sharpest change came in the year to June 2020, when income rose by 42%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Resource Inc for Community and Economic Development sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Rooftop of Virginia Cap ($4.3m), South Central Region 8 Workforce Board Inc ($4.3m) and Detriot Economic Growth Association ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 21% of the total. Other salaries and wages came to $523k. At year end it held assets of $2.2m against liabilities of $1.2m, net assets of $912k. It reported 8 employees.