Mid-East Development Corporation

Analysis

Mid-East Development Corporation is a registered charity in United States, based in Washington, NC. It received its IRS tax-exemption ruling in August 1990, 36 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Mid-East Development Corporation reported income of $335k and spending of $332k, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $323k to $335k (+3.7%), an average of +0.7% a year. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mid-East Development Corporation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within NC. Charities of a similar size with the same main cause include Cornerstone Homes River Garden Inc ($335k), Outreach Unlimited ($335k) and Ohio Region Senior Citizens Housing Corporation III ($335k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 32% and program service revenue 68% of the total. At year end it held assets of $1.1m against liabilities of $1.4m, net assets of -$230k.