Greater Freeport Partnership

Analysis

Greater Freeport Partnership is a registered charity in United States, based in Freeport, IL. It received its IRS tax-exemption ruling in September 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 December 2023, Greater Freeport Partnership reported income of $1.1m and spending of $960k, spending 91% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $672k to $1.1m (+57%), an average of +9.5% a year. The sharpest change came in the year to December 2019, when income rose by 26%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Freeport Partnership sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within IL. Charities of a similar size with the same main cause include Freedom Equity Inc ($1.1m), Wheeling National Heritage Area Corporation ($1.1m) and Northeast Family Resource Center ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 5.7% of the total. Compensation of current officers, directors and key employees was $193k (20% of expenses). Other salaries and wages came to $290k. At year end it held assets of $935k against liabilities of $501k, net assets of $434k. It reported 12 employees.