Fort Madison Economic Development Corporation

Analysis

Fort Madison Economic Development Corporation is a registered charity in United States, based in Montrose, IA. It received its IRS tax-exemption ruling in January 1988, 38 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, Fort Madison Economic Development Corporation reported income of $57k and spending of $25k, leaving 57% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $44k to $57k (+30%), an average of +6.7% a year. The sharpest change came in the year to December 2021, when income rose by 987%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fort Madison Economic Development Corporation sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within IA. Charities of a similar size with the same main cause include Outsidein Clothing ($57k), Sperryville Community Foundation ($57k) and Sugar Land Rotary Foundation Inc ($57k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% of the total. At year end it held assets of $568k against liabilities of $0, net assets of $568k.