Northeast Economic Development Inc

Analysis

Northeast Economic Development Inc is a registered charity in United States, based in Norfolk, NE. It received its IRS tax-exemption ruling in May 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2023, Northeast Economic Development Inc reported income of $776k and spending of $351k, leaving 55% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income fell from $2.2m to $776k (-64%), an average of -29% a year. The sharpest change came in the year to June 2023, when income dropped by 51%. Over the whole period it spent 48% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Northeast Economic Development Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NE. Charities of a similar size with the same main cause include Faith Presbyterian Village Inc ($776k), Dragonfly Dreams Housing Inc ($776k) and Norwalk Mutual Housing Inc ($776k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% and program service revenue 31% of the total. At year end it held assets of $10.2m against liabilities of $950k, net assets of $9.3m.