Echo Resource Development Inc

Analysis

Echo Resource Development Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in January 2016, 10 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, Echo Resource Development Inc reported income of $82k and spending of $99k, spending 121% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $208k to $82k (-61%), an average of -17% a year. The sharpest change came in the year to December 2020, when income rose by 72%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Echo Resource Development Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 33rd percentile within MD. Charities of a similar size with the same main cause include Webster Community Coalition for Economic Development Corp ($82k), Into the Neighborhood Inc ($82k) and California Federation of Womens Clubs ($82k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $59k (60% of expenses). At year end it held assets of $98k against liabilities of $138, net assets of $98k.