Milwaukee Economic Development Corp

Analysis

Milwaukee Economic Development Corp is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in July 1974, 52 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, Milwaukee Economic Development Corp reported income of $5.0m and spending of $5.2m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $5.0m (+5.4%), an average of +1.3% a year. The sharpest change came in the year to December 2023, when income rose by 24%. Over the whole period it spent 150% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Milwaukee Economic Development Corp sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within WI. Charities of a similar size with the same main cause include Enfocus Inc ($5.0m), Baby Talk Inc ($5.0m) and Appalachian Partnership Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 73% of the total. Compensation of current officers, directors and key employees was $560k (11% of expenses). Other salaries and wages came to $761k. At year end it held assets of $133.0m against liabilities of $46.4m, net assets of $86.6m. It reported 15 employees.