Mission Economic Development Agency

Analysis

Mission Economic Development Agency is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in April 1976, 50 years ago. 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, Mission Economic Development Agency reported income of $26.5m and spending of $31.7m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.5m to $26.5m (+36%), an average of +7.9% a year. The sharpest change came in the year to December 2020, when income rose by 42%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mission Economic Development Agency sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include North Penn Comprehensive Health Services ($26.4m), New Concepts for Living Inc ($26.5m) and Catholic Charities of Northeast Kansas Inc ($26.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $1.5m (4.7% of expenses). Other salaries and wages came to $8.8m. At year end it held assets of $210.5m against liabilities of $198.0m, net assets of $12.5m. It reported 117 employees.