Fund for Our Economic Future of Northeast Ohio

Analysis

Fund for Our Economic Future of Northeast Ohio is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in December 2009, 17 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, Fund for Our Economic Future of Northeast Ohio reported income of $5.2m and spending of $6.6m, spending 127% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.3m to $5.2m (+21%), an average of +4.8% a year. The sharpest change came in the year to December 2021, when income rose by 150%. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fund for Our Economic Future of Northeast Ohio sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Kingdom Builders Center of Houston Texas Inc ($5.2m), African American Chamber of Commerce of New Jersey Inc ($5.2m) and Buf Health and Human Services Corporation Inc ($5.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $303k (4.6% of expenses). Other salaries and wages came to $641k. At year end it held assets of $8.2m against liabilities of $718k, net assets of $7.5m. It reported 8 employees.