Improving Economies for Stronger Communities

Analysis

Improving Economies for Stronger Communities is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in September 1964, 62 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, Improving Economies for Stronger Communities reported income of $30.2m and spending of $29.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $20.1m to $30.2m (+50%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Improving Economies for Stronger Communities sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 95th percentile within DC. Charities of a similar size with the same main cause include Winston County Medical Foundation ($30.2m), Alabama Forest Resources Center Inc ($30.2m) and Nysarc Inc ($30.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $2.0m (6.7% of expenses). Other salaries and wages came to $8.8m. At year end it held assets of $33.6m against liabilities of $30.6m, net assets of $2.9m. It reported 59 employees.