Southern Iowa Economic Development Association

Analysis

Southern Iowa Economic Development Association is a registered charity in United States, based in Ottumwa, IA. It received its IRS tax-exemption ruling in May 1968, 58 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 June 2023, Southern Iowa Economic Development Association reported income of $15.4m and spending of $15.2m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.4m to $15.4m (+47%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southern Iowa Economic Development Association sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within IA. Charities of a similar size with the same main cause include Merced County Community Action Board ($15.4m), Bradford Ecumenical Home Inc ($15.4m) and Fort Peck Community College ($15.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $323k (2.1% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $5.4m against liabilities of $1.3m, net assets of $4.1m. It reported 178 employees.