Emerald Development and Economic

Analysis

Emerald Development and Economic is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in November 1991, 35 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Emerald Development and Economic reported income of $47.5m and spending of $46.9m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $34.2m to $47.5m (+39%), an average of +8.5% a year. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Emerald Development and Economic sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Lantern Community Services Inc ($47.4m), Lantern Hill Inc ($47.6m) and MHT Housing IV Inc ($47.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $671k (1.4% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $46.2m against liabilities of $20.8m, net assets of $25.4m. It reported 249 employees.