Alto Economic Development Corporation

Analysis

Alto Economic Development Corporation is a registered charity in United States, based in Alto, TX. It received its IRS tax-exemption ruling in August 2010, 16 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, Alto Economic Development Corporation reported income of $106k and spending of $67k, leaving 36% of income unspent that year. Across the 3 years on record, from December 2019 to December 2023, income fell from $291k to $106k (-64%), an average of -40% a year. The sharpest change came in the year to December 2022, when income dropped by 72%. Over the whole period it spent 37% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alto Economic Development Corporation sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 41st percentile within TX. Charities of a similar size with the same main cause include Oakland Chinatown Chamber Foundation ($106k), Old Algiers Main Street Program ($106k) and Original Little Italy Community Organization Inc ($106k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $409k against liabilities of $2,676, net assets of $406k.