South Eastern Development Foundation

Analysis

South Eastern Development Foundation is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in June 2002, 24 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, South Eastern Development Foundation reported income of $2.4m and spending of $1.3m, leaving 45% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $624k to $2.4m (+291%), an average of +41% a year. The sharpest change came in the year to December 2020, when income rose by 572%. Over the whole period it spent 34% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South Eastern Development Foundation 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 87th percentile, and in the 87th percentile within SD. Charities of a similar size with the same main cause include Serving Hands Community Development Corporation ($2.4m), Community Housing Initiative Inc ($2.4m) and North Eastern Stragetic Alliance Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 26% of the total. At year end it held assets of $24.9m against liabilities of $7.9m, net assets of $17.0m.