Rural Electric Economic Development Inc

Analysis

Rural Electric Economic Development Inc is a registered charity in United States, based in Madison, SD. It received its IRS tax-exemption ruling in December 1998, 28 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, Rural Electric Economic Development Inc reported income of $2.3m and spending of $867k, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.4m to $2.3m (-2.4%), an average of -0.6% a year. The sharpest change came in the year to December 2020, when income rose by 62%. Over the whole period it spent 37% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rural Electric Economic Development Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within SD. Charities of a similar size with the same main cause include Johnstown Industrial Development Corporation ($2.3m), Covenant Community Capital Corporation ($2.3m) and Providence House ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 53% of the total. At year end it held assets of $48.9m against liabilities of $15.5m, net assets of $33.4m.