East Falls Development Corporation

Analysis

East Falls Development Corporation is a registered charity in United States, based in Phila, PA. It received its IRS tax-exemption ruling in November 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, East Falls Development Corporation reported income of $272k and spending of $265k, spending 98% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $162k to $272k (+68%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 163%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, East Falls Development Corporation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within PA. Charities of a similar size with the same main cause include Central Nodak Development Corporation ($272k), Natick Center Associates Inc ($272k) and Midtown Redevelopment Corporation ($272k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $75k (28% of expenses). Other salaries and wages came to $23k. At year end it held assets of $494k against liabilities of $20k, net assets of $475k. It reported 6 employees.