Roanoke Economic Development Incorporated

Analysis

Roanoke Economic Development Incorporated is a registered charity in United States, based in Aulander, NC. It received its IRS tax-exemption ruling in July 2000, 26 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, Roanoke Economic Development Incorporated reported income of $766k and spending of $954k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $984k to $766k (-22%), an average of -6.1% a year. The sharpest change came in the year to December 2021, when income rose by 572%. 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, Roanoke Economic Development Incorporated sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Latino Business Foundation Silicon Valley ($766k), Progress Trust Inc ($767k) and Gaston Innovation Group Inc ($766k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.1% of the total. Other salaries and wages came to $298k. At year end it held assets of $1.4m against liabilities of $3.0m, net assets of -$1.6m.