Heartland State Economic Development Corporation

Analysis

Heartland State Economic Development Corporation is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in May 2014, 12 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, Heartland State Economic Development Corporation reported income of $89k and spending of $60k, leaving 33% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $43k to $89k (+108%), an average of +28% a year. The sharpest change came in the year to December 2021, when income rose by 2543%. Over the whole period it spent 17% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Heartland State Economic Development Corporation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 32nd percentile within IA. Charities of a similar size with the same main cause include East Mississippi Business Development Foundation ($89k), Santa Clara County Automotive Trades Apprentice Training Trust F ($89k) and Williamsburg Downtown District ($89k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.8% of the total. Other salaries and wages came to $42k. At year end it held assets of $307k against liabilities of $244k, net assets of $63k.