MCS Economic Development Corporation

Analysis

MCS Economic Development Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in November 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 June 2023, MCS Economic Development Corporation reported income of $812k and spending of $643k, leaving 21% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $344k to $812k (+136%), an average of +136% a year. The sharpest change came in the year to June 2023, when income rose by 136%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, MCS Economic Development Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include S G Atkins Community Development Corporation ($812k), Georgia Cities Foundation Inc ($813k) and Assistance League of Santa Clarita ($812k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $168k. At year end it held assets of $426k against liabilities of $195k, net assets of $231k. It reported 2 employees.