McDowell Economic Development Association Inc

Analysis

McDowell Economic Development Association Inc is a registered charity in United States, based in Marion, 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 2023, McDowell Economic Development Association Inc reported income of $228k and spending of $181k, leaving 20% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $181k to $228k (+26%), an average of +8.0% a year. The sharpest change came in the year to June 2023, when income rose by 79%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, McDowell Economic Development Association Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NC. Charities of a similar size with the same main cause include Lawndale Business Renaissance Association ($228k), Community Healthcare Foundation Inc ($228k) and Lumber City Local Development ($228k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $113k. At year end it held assets of $86k against liabilities of $3,658, net assets of $82k. It reported 2 employees.