Community and Economic Development Associates

Analysis

Community and Economic Development Associates is a registered charity in United States, based in Chatfield, MN. It received its IRS tax-exemption ruling in January 1987, 39 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 December 2023, Community and Economic Development Associates reported income of $4.7m and spending of $3.6m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $4.7m (+142%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 79%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Community and Economic Development Associates sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MN. Charities of a similar size with the same main cause include Accelerate Montana ($4.7m), Two Ten Footwear Foundation Inc ($4.7m) and Playa Vista Job Opportunities and Business Services ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $159k (4.5% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $2.5m against liabilities of $182k, net assets of $2.3m. It reported 52 employees.