Center for Regional Economic Competitiveness

Analysis

Center for Regional Economic Competitiveness is a registered charity in United States, based in Arlington, VA. It received its IRS tax-exemption ruling in July 2001, 25 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 December 2023, Center for Regional Economic Competitiveness reported income of $5.2m and spending of $5.7m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.0m to $5.2m (+73%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Center for Regional Economic Competitiveness sits at the 93rd 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 93rd percentile within VA. Charities of a similar size with the same main cause include Nazareth Prep ($5.2m), Haser Inc ($5.2m) and Workforce Solutions for North Central Pennsylvania Inc ($5.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $522k (9.1% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $3.0m against liabilities of $2.2m, net assets of $719k. It reported 41 employees.