Southeast Texas Economic Development Foundation Inc

Analysis

Southeast Texas Economic Development Foundation Inc is a registered charity in United States, based in Beaumont, TX. It received its IRS tax-exemption ruling in October 1972, 54 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 September 2023, Southeast Texas Economic Development Foundation Inc reported income of $267k and spending of $261k, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $249k to $267k (+7.2%), an average of +1.8% a year. 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, Southeast Texas Economic Development Foundation Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 64th percentile within TX. Charities of a similar size with the same main cause include Bulgaria Innovation Hub Inc ($267k), Friends of Vienna ($267k) and Greater Laporte Economic Development Corporation ($267k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 93% of the total. Other salaries and wages came to $84k. At year end it held assets of $201k against liabilities of $12k, net assets of $189k. It reported 3 employees.