Saratoga Economic Development Corporation

Analysis

Saratoga Economic Development Corporation is a registered charity in United States, based in Saratoga SPGS, NY. It received its IRS tax-exemption ruling in January 1980, 46 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, Saratoga Economic Development Corporation reported income of $966k and spending of $735k, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $343k to $966k (+182%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Saratoga Economic Development Corporation sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include German American Chamber of Commerce California Inc ($965k), Air Conditioning Contractors of America ($966k) and Rogers Park Community Council ($965k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $228k (31% of expenses). Other salaries and wages came to $126k. At year end it held assets of $1.1m against liabilities of $44k, net assets of $1.1m. It reported 6 employees.