Monterey Bay Economic Partnership Inc

Analysis

Monterey Bay Economic Partnership Inc is a registered charity in United States, based in Marina, CA. It received its IRS tax-exemption ruling in May 2015, 11 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, Monterey Bay Economic Partnership Inc reported income of $1.5m and spending of $1.3m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.5m (+45%), an average of +9.6% a year. The sharpest change came in the year to December 2020, when income rose by 64%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Monterey Bay Economic Partnership Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Brooklyn Neighborhood HDFC ($1.5m), Cuyahoga Land Bank Charities ($1.5m) and Workforce Wayne ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $183k (14% of expenses). Other salaries and wages came to $497k. At year end it held assets of $2.7m against liabilities of $127k, net assets of $2.6m. It reported 13 employees.