Prince Georges County Economic Development Corporation

Analysis

Prince Georges County Economic Development Corporation is a registered charity in United States, based in Largo, MD. It received its IRS tax-exemption ruling in April 1984, 42 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, Prince Georges County Economic Development Corporation reported income of $5.1m and spending of $4.8m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.2m to $5.1m (+23%), an average of +5.2% a year. The sharpest change came in the year to June 2022, when income dropped by 25%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Prince Georges County Economic Development Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MD. Charities of a similar size with the same main cause include Rogue Workforce Partnership ($5.1m), Twin Rivers Developmental Supports Inc ($5.1m) and Plumbers & Pipefitters Apprentices Training & Educational Programs TR ($5.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.9% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $791k (17% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $6.9m against liabilities of $1.3m, net assets of $5.6m. It reported 25 employees.