Hamburg Economic Development Corporation

Analysis

Hamburg Economic Development Corporation is a registered charity in United States, based in Hamburg, IA. It received its IRS tax-exemption ruling in June 2023, 3 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hamburg Economic Development Corporation reported income of $225k and spending of $31k, leaving 86% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $426k to $225k (-47%), an average of -15% a year. The sharpest change came in the year to December 2021, when income dropped by 47%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hamburg Economic Development Corporation sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 57th percentile within IA. Charities of a similar size with the same main cause include Chittenden County Senior Citizens Alliance Inc ($225k), The Freedom Foundation of Minnesota ($225k) and Lansing Old Newsboys Association ($225k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $264k against liabilities of $0, net assets of $264k.