East Market Street Development Corporation

Analysis

East Market Street Development Corporation is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in June 1998, 28 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 December 2023, East Market Street Development Corporation reported income of $599k and spending of $478k, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $483k to $599k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2023, when income rose by 63%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, East Market Street Development Corporation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Women in Etfs Inc ($599k), Dan River Business Development Center ($599k) and Play 4 All Park Inc ($598k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $89k (19% of expenses). Other salaries and wages came to $89k. At year end it held assets of $2.1m against liabilities of $2.0m, net assets of $136k. It reported 3 employees.