Mohawk Valley Economic Development District Inc

Analysis

Mohawk Valley Economic Development District Inc is a registered charity in United States, based in Mohawk, NY. It received its IRS tax-exemption ruling in March 1983, 43 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, Mohawk Valley Economic Development District Inc reported income of $995k and spending of $914k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $405k to $995k (+146%), an average of +25% a year. The sharpest change came in the year to December 2020, when income rose by 613%. 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, Mohawk Valley Economic Development District Inc sits at the 77th percentile: it is larger than about 77% 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 Invest Up ($994k), Pednet Coalition Inc ($995k) and Growth Opportunity Partners Inc ($994k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $96k (11% of expenses). Other salaries and wages came to $407k. At year end it held assets of $2.0m against liabilities of $62k, net assets of $2.0m. It reported 11 employees.