The Economic Development Group Inc

Analysis

The Economic Development Group Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in December 2001, 25 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 June 2023, The Economic Development Group Inc reported income of $4.9m and spending of $4.5m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.9m (+42%), an average of +9.1% a year. The sharpest change came in the year to June 2022, when income rose by 120%. Over the whole period it spent 88% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, The Economic Development Group Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Mustang Soccer League ($4.8m), West Pasco Youth Soccer Association Inc ($4.9m) and 21st Century Parks Endowment Inc ($4.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $439k (9.9% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $3.7m against liabilities of $1.2m, net assets of $2.5m. It reported 25 employees.