Lincoln Economic Development Association

Analysis

Lincoln Economic Development Association is a registered charity in United States, based in Lincolnton, NC. It received its IRS tax-exemption ruling in April 1996, 30 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, Lincoln Economic Development Association reported income of $830k and spending of $842k, spending 102% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $766k to $830k (+8.4%), an average of +2.7% a year. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lincoln Economic Development Association sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within NC. Charities of a similar size with the same main cause include Imagine Englewood If NFP ($829k), Humanity Alliance ($830k) and Niagara University Ice Complex Inc ($829k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $151k (18% of expenses). Other salaries and wages came to $291k. At year end it held assets of $892k against liabilities of $70k, net assets of $822k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.