Sixth Economic Empowerment Development Inc

Analysis

Sixth Economic Empowerment Development Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in August 2016, 10 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 December 2022, Sixth Economic Empowerment Development Inc reported income of $470k and spending of $423k, spending 90% of its income. Across the 3 years on record, from December 2020 to December 2022, income grew from $157k to $470k (+199%), an average of +73% a year. The sharpest change came in the year to December 2021, when income rose by 208%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Sixth Economic Empowerment Development Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within PA. Charities of a similar size with the same main cause include Little Tokyo Community Council ($470k), Kansas City Regional Destination Development Foundati ($470k) and Main Street Mission of China Grove Inc ($470k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. At year end it held assets of $2.6m against liabilities of $2.7m, net assets of -$43k.