Hudson County Economic Development Corporation

Analysis

Hudson County Economic Development Corporation is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in September 1995, 31 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, Hudson County Economic Development Corporation reported income of $899k and spending of $834k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $565k to $899k (+59%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 109% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hudson County Economic Development Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 81st percentile within NJ. Charities of a similar size with the same main cause include Lexington Vocational Services Center Inc ($899k), Kennebec Valley Council of Governments ($899k) and Society of Family Planning ($899k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $139k. At year end it held assets of $1.8m against liabilities of $149k, net assets of $1.7m. It reported 3 employees.