Shelton Economic Development Corporation

Analysis

Shelton Economic Development Corporation is a registered charity in United States, based in Shelton, CT. It received its IRS tax-exemption ruling in July 1986, 40 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 December 2023, Shelton Economic Development Corporation reported income of $410k and spending of $414k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $336k to $410k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Shelton Economic Development Corporation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 64th percentile within CT. Charities of a similar size with the same main cause include Camp Allen Ministries Inc ($410k), United Way of Northern Ozaukee Inc ($410k) and Testimonies of Hope Inc ($409k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $215k. At year end it held assets of $302k against liabilities of $224k, net assets of $78k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.