Greater Kokomo Economic Development Alliance Inc

Analysis

Greater Kokomo Economic Development Alliance Inc is a registered charity in United States, based in Kokomo, IN. It received its IRS tax-exemption ruling in November 1984, 42 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, Greater Kokomo Economic Development Alliance Inc reported income of $1.4m and spending of $1.4m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $963k to $1.4m (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2021, when income rose by 215%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Kokomo Economic Development Alliance Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within IN. Charities of a similar size with the same main cause include West Seattle Junction Association ($1.4m), Dearborn County Convention Visitor & Tourism Bureau Inc ($1.4m) and Sheet Metal Workers Craft Training Fund Local Union 38 ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 4.7% of the total. Compensation of current officers, directors and key employees was $106k (7.7% of expenses). Other salaries and wages came to $223k. At year end it held assets of $7.1m against liabilities of $3.3m, net assets of $3.8m. It reported 10 employees.