Catawba County Economic Development Corporation

Analysis

Catawba County Economic Development Corporation is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in October 1983, 43 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 2024, Catawba County Economic Development Corporation reported income of $1.2m and spending of $1.3m, spending 104% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $751k to $1.2m (+62%), an average of +13% a year. The sharpest change came in the year to June 2024, when income rose by 29%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Catawba County Economic Development Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Harrison Center for Career Education ($1.2m), Rock Health Foundation ($1.2m) and Neighborhood Renaissance Inc ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $205k (16% of expenses). Other salaries and wages came to $337k. At year end it held assets of $499k against liabilities of $222k, net assets of $277k. It reported 6 employees.