Local Economic & Employement Development Council Inc

Analysis

Local Economic & Employement Development Council Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2001, 25 years ago. Its declared purposes cover employment, 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, Local Economic & Employement Development Council Inc reported income of $532k and spending of $475k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $313k to $532k (+70%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Local Economic & Employement Development Council Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within IL. Charities of a similar size with the same main cause include St Jude Great Commission Community Development Corporation ($532k), Community Action Development Corporation of Bethlehem ($533k) and Nanankuli Hawaiian Homestead Community Association ($532k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $83k (18% of expenses). Other salaries and wages came to $182k. At year end it held assets of $626k against liabilities of $456k, net assets of $170k. It reported 4 employees.