Custer Economic Development Corp

Analysis

Custer Economic Development Corp is a registered charity in United States, based in Broken Bow, NE. It received its IRS tax-exemption ruling in September 2004, 22 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, Custer Economic Development Corp reported income of $167k and spending of $533k, spending 318% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $349k to $167k (-52%), an average of -17% a year. The sharpest change came in the year to December 2021, when income rose by 201%. Over the whole period it spent 70% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Custer Economic Development Corp sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NE. Charities of a similar size with the same main cause include Council for Rural Virginia ($167k), Main Street Siloam Springs Inc ($168k) and Fredericksburg Rotary Club Foundation Inc ($167k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 9.1% of the total. Compensation of current officers, directors and key employees was $36k (6.8% of expenses). At year end it held assets of $1.8m against liabilities of $72k, net assets of $1.7m. It reported 2 employees.