Enterprise Development Fund of Erie County Inc

Analysis

Enterprise Development Fund of Erie County Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in March 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 December 2023, Enterprise Development Fund of Erie County Inc reported income of $807k and spending of $173k, leaving 79% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $305k to $807k (+164%), an average of +28% a year. The sharpest change came in the year to December 2022, when income rose by 38%. Over the whole period it spent 69% 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 Fund of Erie County Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within PA. Charities of a similar size with the same main cause include Goodwill Works Foundation Inc ($806k), Berkshire Black Economic Council ($807k) and Mercer County Opportunity Industries Inc ($806k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 23% of the total. At year end it held assets of $5.0m against liabilities of $3.9m, net assets of $1.1m.