Greater Gallup Economic Development Corporation

Analysis

Greater Gallup Economic Development Corporation is a registered charity in United States, based in Gallup, NM. It received its IRS tax-exemption ruling in January 2013, 13 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 June 2024, Greater Gallup Economic Development Corporation reported income of $571k and spending of $650k, spending 114% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $714k to $571k (-20%), an average of -5.4% a year. The sharpest change came in the year to June 2021, when income rose by 163%. Over the whole period it spent 65% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Gallup Economic Development Corporation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within NM. Charities of a similar size with the same main cause include Honor Your Dreams Foundation Inc ($571k), Women in Progress Inc ($571k) and Junior League of Chicago Inc ($571k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $142k (22% of expenses). Other salaries and wages came to $161k. At year end it held assets of $1.9m against liabilities of $58k, net assets of $1.9m. It reported 6 employees.