2523 Market Corp

Analysis

2523 Market Corp is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in November 1996, 30 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, 2523 Market Corp reported income of $322k and spending of $390k, spending 121% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $464k to $322k (-31%), an average of -11% a year. The sharpest change came in the year to June 2022, when income rose by 326%. Over the whole period it spent 112% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, 2523 Market Corp sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within OH. Charities of a similar size with the same main cause include Forest City Food Collective ($322k), Dubois County Area Development Corporation ($322k) and Rural Revitilization Corporation ($322k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.2m against liabilities of $987k, net assets of $259k.