Anacostia Economic Development Corporation

Analysis

Anacostia Economic Development Corporation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in October 1971, 55 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, Anacostia Economic Development Corporation reported income of $1.4m and spending of $797k, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $1.4m (-48%), an average of -15% a year. The sharpest change came in the year to December 2022, when income dropped by 57%. Over the whole period it spent 52% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Anacostia Economic Development Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 60th percentile within DC. Charities of a similar size with the same main cause include Ohio Operating Engineers Education & Safety Fund ($1.4m), Pagosa Springs Community Development Corporation ($1.4m) and GPRMC Holdings Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% of the total. Compensation of current officers, directors and key employees was $27k (3.4% of expenses). Other salaries and wages came to $355k. At year end it held assets of $22.6m against liabilities of $1.7m, net assets of $20.9m. It reported 5 employees.