Keweenaw Economic Development Alliance

Analysis

Keweenaw Economic Development Alliance is a registered charity in United States, based in Houghton, MI. It received its IRS tax-exemption ruling in April 2017, 9 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, Keweenaw Economic Development Alliance reported income of $236k and spending of $197k, spending 84% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $179k to $236k (+31%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Keweenaw Economic Development Alliance sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within MI. Charities of a similar size with the same main cause include Oak Harbor Main Street Association ($236k), Owatonna Incubator Inc ($236k) and Price County Productions Inc ($236k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 71% of the total. At year end it held assets of $445k against liabilities of $39k, net assets of $406k.