Alamance County Economic Development Foundation

Analysis

Alamance County Economic Development Foundation is a registered charity in United States, based in Burlington, NC. It received its IRS tax-exemption ruling in May 2006, 20 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Alamance County Economic Development Foundation reported income of $401k and spending of $398k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $388k to $401k (+3.3%), an average of +0.8% a year. The sharpest change came in the year to December 2022, when income rose by 37%. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alamance County Economic Development Foundation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within NC. Charities of a similar size with the same main cause include Toolbank USA Inc ($401k), Gulf Coast Main Street Corp Biloxi ($401k) and El Paso Collaborative for Community and Economic Development ($401k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Other salaries and wages came to $115k. At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m.