Regional Economic Development Corporation

Analysis

Regional Economic Development Corporation is a registered charity in United States, based in Marion, IL. It received its IRS tax-exemption ruling in November 2001, 25 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 April 2024, Regional Economic Development Corporation reported income of $245k and spending of $89k, leaving 64% of income unspent that year. Across the 6 years on record, from April 2019 to April 2024, income grew from $217k to $245k (+13%), an average of +2.5% a year. The sharpest change came in the year to April 2023, when income rose by 370%. Over the whole period it spent 34% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Regional Economic Development Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within IL. Charities of a similar size with the same main cause include Springfield Cultural Partnership Incorporated ($245k), East Village Community Coalition Inc ($245k) and Christian Womens Job Corps of Kerr County ($245k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 86% of the total. At year end it held assets of $3.4m against liabilities of $157k, net assets of $3.3m.