Citizens Economic Development Inc

Analysis

Citizens Economic Development Inc is a registered charity in United States, based in Wentworth, NC. It received its IRS tax-exemption ruling in November 1987, 39 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, Citizens Economic Development Inc reported income of $93k and spending of $110k, spending 118% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $116k to $93k (-20%), an average of -7.0% a year. The sharpest change came in the year to June 2022, when income dropped by 66%. Over the whole period it spent 109% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Citizens Economic Development Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within NC. Charities of a similar size with the same main cause include Keokuk Economic Development Corporation ($93k), National Coalition of 100 Black Women Inc Las Vegas Chapter ($93k) and Neoac Advisory Council ($93k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $3.4m against liabilities of $41k, net assets of $3.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.