Elkton Alliance Inc

Analysis

Elkton Alliance Inc is a registered charity in United States, based in Elkton, MD. It received its IRS tax-exemption ruling in April 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Elkton Alliance Inc reported income of $162k and spending of $163k, spending 101% of its income. Across the 5 years on record, from December 2019 to June 2023, income fell from $254k to $162k (-36%), an average of -11% a year. The sharpest change came in the year to December 2021, when income rose by 236%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Elkton Alliance Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within MD. Charities of a similar size with the same main cause include Mission Hill Main Streets ($162k), Rotary Club of Fort Collins Charities Inc ($162k) and Lincoln County Economic Development Corporation ($162k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $62k (38% of expenses). At year end it held assets of $244k against liabilities of -$799, net assets of $244k. It reported 2 employees.