Twin Tiers Economic Development Inc

Analysis

Twin Tiers Economic Development Inc is a registered charity in United States, based in Elmira, NY. It received its IRS tax-exemption ruling in April 2001, 25 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, Twin Tiers Economic Development Inc reported income of $103k and spending of $61k, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $86k to $103k (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2020, when income dropped by 1203%. Over the whole period it spent -59% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Twin Tiers Economic Development Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within NY. Charities of a similar size with the same main cause include Dreams to Reality ($103k), Montana Bioscience Alliance ($103k) and Southside Community Association Inc ($103k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $2.0m, net assets of -$854k.