Chatham County Economic Development Corporation

Analysis

Chatham County Economic Development Corporation is a registered charity in United States, based in Pittsboro, NC. It received its IRS tax-exemption ruling in January 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 June 2023, Chatham County Economic Development Corporation reported income of $519k and spending of $534k, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $395k to $519k (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2022, when income rose by 235%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Chatham County Economic Development Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Whiting-Robertsdale Community Improvement Corporation ($519k), Community Reuse Organization of East Tennessee ($519k) and Onpurpose Enrichment Inc ($519k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $164k (31% of expenses). Other salaries and wages came to $167k. It paid $1,500 in professional fundraising fees. At year end it held assets of $1.4m against liabilities of $36k, net assets of $1.3m. It reported 6 employees.