Columbia Economic Development Corporation

Analysis

Columbia Economic Development Corporation is a registered charity in United States, based in Hudson, NY. It received its IRS tax-exemption ruling in December 1994, 32 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, Columbia Economic Development Corporation reported income of $1.2m and spending of $1.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $788k to $1.2m (+50%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 29%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Columbia Economic Development Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Active Faith ($1.2m), Habitat for Humanity International Inc ($1.2m) and First Step II Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 7.3% of the total. Other salaries and wages came to $459k. At year end it held assets of $4.8m against liabilities of $2.1m, net assets of $2.8m. It reported 7 employees.