Greater Altoona Economic Development Corporation

Analysis

Greater Altoona Economic Development Corporation is a registered charity in United States, based in Altoona, PA. It received its IRS tax-exemption ruling in July 1987, 39 years ago. 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, Greater Altoona Economic Development Corporation reported income of $113k and spending of $125k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $287k to $113k (-61%), an average of -21% a year. The sharpest change came in the year to December 2023, when income dropped by 65%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Greater Altoona Economic Development Corporation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within PA. Charities of a similar size with the same main cause include St Helens Booster Club Inc ($113k), Clarence & Genevive Swallen Missionary Endowed Scholarship ($113k) and Texas Aggie Band Association ($113k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $217k against liabilities of $0, net assets of $217k.