Portage Economic Development Corp

Analysis

Portage Economic Development Corp is a registered charity in United States, based in Portage, IN. It received its IRS tax-exemption ruling in August 1985, 41 years ago. 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, Portage Economic Development Corp reported income of $112k and spending of $123k, spending 110% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $92k to $112k (+21%), an average of +6.6% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Portage Economic Development Corp sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within IN. Charities of a similar size with the same main cause include Christa McAuliffe Parent Teachers Organization ($112k), Jennings County Coordinating Council Inc ($112k) and Crane Lake Volunteer Fire Department Incorporated ($112k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $95k (77% of expenses). At year end it held assets of $122k against liabilities of $0, net assets of $122k. It reported 1 employees.