Michigan Economic Developers Association

Analysis

Michigan Economic Developers Association is a registered charity in United States, based in Lansing, MI. It received its IRS tax-exemption ruling in November 1990, 36 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Michigan Economic Developers Association reported income of $464k and spending of $435k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $586k to $464k (-21%), an average of -5.7% a year. The sharpest change came in the year to December 2020, when income dropped by 32%. 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, Michigan Economic Developers Association sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within MI. Charities of a similar size with the same main cause include Albemarle Downtown Development Corp ($464k), Mt Airy Community Services Corporation ($465k) and Northwest Innovation Resource Center ($464k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $138k (32% of expenses). Other salaries and wages came to $99k. At year end it held assets of $396k against liabilities of $0, net assets of $396k. It reported 4 employees.