Southeastern Efforts Developing Sustainable Spaces Inc

Analysis

Southeastern Efforts Developing Sustainable Spaces Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover employment, 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, Southeastern Efforts Developing Sustainable Spaces Inc reported income of $161k and spending of $289k, spending 180% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $412k to $161k (-61%), an average of -17% a year. The sharpest change came in the year to June 2024, when income dropped by 49%. Over the whole period it spent 122% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southeastern Efforts Developing Sustainable Spaces Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within NC. Charities of a similar size with the same main cause include The Cohousing Association of the US ($160k), Urban Dream Chasers ($161k) and Volga-German Centennial Association ($160k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $55k (19% of expenses). Other salaries and wages came to $61k. At year end it held assets of $1.5m against liabilities of $1,179, net assets of $1.4m. It reported 24 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.