Alton Economic Development Corporation

Analysis

Alton Economic Development Corporation is a registered charity in United States, based in Alton, IA. It received its IRS tax-exemption ruling in May 2011, 15 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, Alton Economic Development Corporation reported income of $199k and spending of $184k, spending 93% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $57k to $199k (+248%), an average of +52% a year. The sharpest change came in the year to December 2021, when income rose by 434%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alton Economic Development Corporation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 54th percentile within IA. Charities of a similar size with the same main cause include Monsignor McCann Community Fund ($199k), Beautiful Downtown Lewiston Revitalization Corp ($199k) and Native American Business Association ($199k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. At year end it held assets of $1.1m against liabilities of $468k, net assets of $680k.