Martin Luther King Economic Development Corporation

Analysis

Martin Luther King Economic Development Corporation is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in July 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Martin Luther King Economic Development Corporation reported income of $966k and spending of $1.1m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $966k (-8.0%), an average of -2.1% a year. The sharpest change came in the year to December 2020, when income rose by 76%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Martin Luther King Economic Development Corporation sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within WI. Charities of a similar size with the same main cause include H E L P USA Inc ($966k), NHDC Fairfield Village Apartments Inc ($966k) and Pender Community Development Inc ($966k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 66% of the total. Compensation of current officers, directors and key employees was $80k (7.5% of expenses). Other salaries and wages came to $108k. At year end it held assets of $13.2m against liabilities of $3.0m, net assets of $10.2m. It reported 2 employees.