Lee County Economic Development Group Inc

Analysis

Lee County Economic Development Group Inc is a registered charity in United States, based in Montrose, IA. It received its IRS tax-exemption ruling in May 2003, 23 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 2024, Lee County Economic Development Group Inc reported income of $530k and spending of $931k, spending 176% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $458k to $530k (+16%), an average of +3.7% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lee County Economic Development Group Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 74th percentile within IA. Charities of a similar size with the same main cause include Great River Economic Development Fo Undation Inc ($530k), Willow House ($530k) and Rising Sun-Ohio County First Inc ($530k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $146k (16% of expenses). Other salaries and wages came to $179k. At year end it held assets of $1.0m against liabilities of $76k, net assets of $955k. It reported 5 employees.