Enterprise Development Center of Erie County Inc

Analysis

Enterprise Development Center of Erie County Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in April 1988, 38 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Enterprise Development Center of Erie County Inc reported income of $2.7m and spending of $936k, leaving 65% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income fell from $3.2m to $2.7m (-16%), an average of -8.3% a year. The sharpest change came in the year to June 2023, when income rose by 118%. Over the whole period it spent 65% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Enterprise Development Center of Erie County Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include Central Market Community Benefit District ($2.7m), Dorchester Bay Nieghborhood Loan Fund Inc ($2.7m) and Short North Alliance Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 4.0% of the total. At year end it held assets of $8.0m against liabilities of $5.6m, net assets of $2.4m.