Community Economic Development Center of Southeastern Mass

Analysis

Community Economic Development Center of Southeastern Mass is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in November 1997, 29 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 September 2023, Community Economic Development Center of Southeastern Mass reported income of $1.4m and spending of $1.1m, leaving 26% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $444k to $1.4m (+223%), an average of +34% a year. The sharpest change came in the year to September 2020, when income rose by 180%. Over the whole period it spent 71% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Community Economic Development Center of Southeastern Mass sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include Darden Rehabilitation Foundation ($1.4m), Development Fund of the Western Reserve Inc ($1.4m) and Columbia Pacific Economic Development District of Oregon ($1.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $144k (14% of expenses). Other salaries and wages came to $374k. At year end it held assets of $1.7m against liabilities of $60k, net assets of $1.6m. It reported 11 employees.