Bedford Area Economic Development Corp

Analysis

Bedford Area Economic Development Corp is a registered charity in United States, based in Bedford, IA. It received its IRS tax-exemption ruling in March 1996, 30 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, Bedford Area Economic Development Corp reported income of $66k and spending of $62k, spending 94% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $65k to $66k (+1.2%), an average of +1.2% a year. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bedford Area Economic Development Corp sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 23rd percentile within IA. Charities of a similar size with the same main cause include Call for Action Inc ($66k), Witco Mary C Niland Foundation Inc ($66k) and Fathers Child Ministry ($66k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 44% of the total. At year end it held assets of $98k against liabilities of $633, net assets of $97k.