Valley Economic Development Partners Inc

Analysis

Valley Economic Development Partners Inc is a registered charity in United States, based in Youngstown, OH. It received its IRS tax-exemption ruling in June 1979, 47 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, Valley Economic Development Partners Inc reported income of $8.2m and spending of $1.3m, leaving 84% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $8.2m (+393%), an average of +49% a year. The sharpest change came in the year to December 2020, when income rose by 620%. 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, Valley Economic Development Partners Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Grace Neighborhood Development Corporation ($8.1m), Goodwill Industries of Wayne and Holmes Counties Inc ($8.2m) and Anthesis Services ($8.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $138k (11% of expenses). Other salaries and wages came to $445k. At year end it held assets of $44.6m against liabilities of $14.8m, net assets of $29.8m. It reported 11 employees.