Anson Economic Development Corporation

Analysis

Anson Economic Development Corporation is a registered charity in United States, based in Wadesboro, NC. It received its IRS tax-exemption ruling in November 2023, 3 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Anson Economic Development Corporation reported income of $2.1m and spending of $440k, leaving 79% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $258k to $2.1m (+722%), an average of +69% a year. The sharpest change came in the year to June 2024, when income rose by 536%. Over the whole period it spent 39% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Anson Economic Development Corporation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Creative Labor Services Inc ($2.1m), International Union of Operating Engineers Local Union 450 Apprenti ($2.1m) and Belay Enterprises Inc ($2.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 86% of the total. Compensation of current officers, directors and key employees was $85k (19% of expenses). At year end it held assets of $9.4m against liabilities of $6.6m, net assets of $2.8m. It reported 2 employees.