Macomb Area Industrial Development Corporation

Analysis

Macomb Area Industrial Development Corporation is a registered charity in United States, based in Macomb, IL. It received its IRS tax-exemption ruling in December 1983, 43 years ago. 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, Macomb Area Industrial Development Corporation reported income of $190k and spending of $176k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $191k to $190k (-0.6%), an average of -0.1% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Macomb Area Industrial Development Corporation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 53rd percentile within IL. Charities of a similar size with the same main cause include In Spirit and in Truth Ministries ($190k), Skokie Country Club Educational Foundation ($190k) and Bitterroot Heritage Academy ($190k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $80k (45% of expenses). Other salaries and wages came to $11k. At year end it held assets of $1.0m against liabilities of $91k, net assets of $930k. It reported 3 employees.