Georgia Economic Development Foundation Inc

Analysis

Georgia Economic Development Foundation Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in March 1985, 41 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 June 2023, Georgia Economic Development Foundation Inc reported income of $236k and spending of $537k, spending 227% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $313k to $236k (-24%), an average of -6.8% a year. The sharpest change came in the year to June 2020, when income rose by 129%. Over the whole period it spent 124% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Georgia Economic Development Foundation Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within GA. Charities of a similar size with the same main cause include Arab-American Development Corp ($236k), Platteville Business Incubator Inc ($236k) and San Miguel Watershed Coalition ($236k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 31% of the total. At year end it held assets of $133k against liabilities of $0, net assets of $133k.