Lucas County Economic Development Corporation

Analysis

Lucas County Economic Development Corporation is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in October 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, Lucas County Economic Development Corporation reported income of $4.6m and spending of $3.2m, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $4.6m (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2023, when income rose by 128%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lucas County Economic Development Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Civic Community Partners Inc ($4.6m), Soma West Community Benefit District ($4.6m) and Democracy at Work Institute ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 41% and program service revenue 9.5% of the total. At year end it held assets of $44.4m against liabilities of $40.2m, net assets of $4.2m.