Hamilton Economic Development Corp

Analysis

Hamilton Economic Development Corp is a registered charity in United States, based in Hamilton, OH. It received its IRS tax-exemption ruling in August 2014, 12 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, Hamilton Economic Development Corp reported income of $94k and spending of $115k, spending 122% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $546k to $94k (-83%), an average of -44% a year. The sharpest change came in the year to December 2021, when income dropped by 81%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hamilton Economic Development Corp sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 36th percentile within OH. Charities of a similar size with the same main cause include West Central Ohio Manufacturing Partnership ($94k), Omena Village Preservation Association Inc ($95k) and Friendship Heights Neighbors Network Corporation ($94k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. At year end it held assets of $41k against liabilities of $144, net assets of $41k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.