Greater Gratiot Development Inc

Analysis

Greater Gratiot Development Inc is a registered charity in United States, based in Ithaca, MI. It received its IRS tax-exemption ruling in July 1993, 33 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 September 2023, Greater Gratiot Development Inc reported income of $576k and spending of $476k, spending 83% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $474k to $576k (+22%), an average of +5.0% a year. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Gratiot Development Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MI. Charities of a similar size with the same main cause include Junior League of New Orleans Inc ($576k), Tech Serve International Inc ($576k) and Friends of McCalla ($575k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 92% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $161k (34% of expenses). Other salaries and wages came to $152k. At year end it held assets of $2.8m against liabilities of $25k, net assets of $2.7m. It reported 4 employees.