Fulton Economic Development Corporation

Analysis

Fulton Economic Development Corporation is a registered charity in United States, based in Rochester, IN. It received its IRS tax-exemption ruling in May 2019, 7 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, Fulton Economic Development Corporation reported income of $708k and spending of $727k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $530k to $708k (+33%), an average of +7.5% a year. The sharpest change came in the year to December 2020, when income rose by 72%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fulton Economic Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within IN. Charities of a similar size with the same main cause include Helena Group Foundation ($707k), Powderhorn Park Neighborhood Association ($708k) and Consortium for Educational Excellence Through Partnerships ($707k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $67k (9.3% of expenses). Other salaries and wages came to $112k. At year end it held assets of $1.8m against liabilities of $345k, net assets of $1.5m. It reported 5 employees.