Capital Region Economic Developement Corporation

Analysis

Capital Region Economic Developement Corporation is a registered charity in United States, based in Harrisburg, PA. It received its IRS tax-exemption ruling in April 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Capital Region Economic Developement Corporation reported income of $1.0m and spending of $1.0m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $1.0m (-31%), an average of -8.7% a year. The sharpest change came in the year to December 2023, when income rose by 61%. Over the whole period it spent 111% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Capital Region Economic Developement Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 77th percentile within PA. Charities of a similar size with the same main cause include Soho Broaadway District Management Association ($1.0m), Skills Development Inc ($1.0m) and Louisiana Minority Business Council Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 36% of the total. At year end it held assets of $5.2m against liabilities of $1.0m, net assets of $4.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.