Foundation of Economic Development Company of Lancaster C

Analysis

Foundation of Economic Development Company of Lancaster C is a registered charity in United States, based in Lancaster, PA. 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 December 2023, Foundation of Economic Development Company of Lancaster C reported income of $54k and spending of $182k, spending 339% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $526k to $54k (-90%), an average of -43% a year. The sharpest change came in the year to December 2023, when income dropped by 74%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Foundation of Economic Development Company of Lancaster C sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 19th percentile within PA. Charities of a similar size with the same main cause include East Aurora Kiwanis Foundation Inc ($54k), Greater Washington Foundation of Insurance and Financial Advisors I ($54k) and Quincy Main Street Inc ($54k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 42% of the total. At year end it held assets of $861k against liabilities of $22k, net assets of $838k.