Metropolitan Economic Development Association

Analysis

Metropolitan Economic Development Association is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 1971, 55 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, Metropolitan Economic Development Association reported income of $9.3m and spending of $8.1m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.9m to $9.3m (+59%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 59%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Metropolitan Economic Development Association sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Nauticus ($9.3m), Ascentria Care Alliance Inc ($9.3m) and Montclair Child Development Center ($9.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $798k (9.9% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $43.0m against liabilities of $31.4m, net assets of $11.6m. It reported 43 employees.