Economic Improvement Council Inc

Analysis

Economic Improvement Council Inc is a registered charity in United States, based in Edenton, NC. It received its IRS tax-exemption ruling in August 1966, 60 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Economic Improvement Council Inc reported income of $24.9m and spending of $25.4m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.7m to $24.9m (+33%), an average of +7.3% a year. The sharpest change came in the year to June 2020, when income rose by 27%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Economic Improvement Council Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Concern-Professional Services for Children Youth and Families ($24.9m), Virginia United Methodist Homes of Williamsburg Inc ($24.9m) and Fahrney Keedy Senior Living Community ($24.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $293k (1.2% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $4.3m against liabilities of $736k, net assets of $3.5m. It reported 351 employees.