Seneca Industrial & Economic Development Corp

Analysis

Seneca Industrial & Economic Development Corp is a registered charity in United States, based in Tiffin, OH. It received its IRS tax-exemption ruling in May 1984, 42 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, Seneca Industrial & Economic Development Corp reported income of $480k and spending of $479k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $514k to $480k (-6.6%), an average of -1.7% a year. The sharpest change came in the year to December 2020, when income rose by 239%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Seneca Industrial & Economic Development Corp sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within OH. Charities of a similar size with the same main cause include Yakima Town Hall ($480k), Arts Association of East Alabama ($480k) and A-Z Foundation Group ($480k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 6.7% of the total. Compensation of current officers, directors and key employees was $115k (24% of expenses). Other salaries and wages came to $121k. At year end it held assets of $1.4m against liabilities of $271k, net assets of $1.1m. It reported 5 employees.