Stark Economic Development Board Inc

Analysis

Stark Economic Development Board Inc is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in August 1985, 41 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 June 2024, Stark Economic Development Board Inc reported income of $3.4m and spending of $2.3m, leaving 33% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.3m to $3.4m (+166%), an average of +22% a year. The sharpest change came in the year to June 2024, when income rose by 187%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Stark Economic Development Board Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include Hudson Yards Hells Kitchen Business Improvement District Inc ($3.3m), The Spero Project Inc ($3.4m) and Careers Industries Inc ($3.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $237k (10% of expenses). Other salaries and wages came to $582k. At year end it held assets of $4.7m against liabilities of $680k, net assets of $4.0m. It reported 12 employees.