Structured Employment Economic Development Corporation

Analysis

Structured Employment Economic Development Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in January 1977, 49 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 December 2023, Structured Employment Economic Development Corporation reported income of $6.6m and spending of $6.6m, spending 101% of its income. Across the 3 years on record, from December 2019 to December 2023, income fell from $7.8m to $6.6m (-16%), an average of -8.5% a year. The sharpest change came in the year to December 2022, when income dropped by 19%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Structured Employment Economic Development Corporation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Fayco Enterprises Inc ($6.6m), North Canton Community Improvement Corporation ($6.6m) and Bestwork Industries for the Blind Inc ($6.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $217k (3.3% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $2.6m against liabilities of $4.9m, net assets of -$2.3m. It reported 58 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.