Whitehaven Economic Development Corporation

Analysis

Whitehaven Economic Development Corporation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 1991, 35 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Whitehaven Economic Development Corporation reported income of $151k and spending of $120k, leaving 20% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $15k to $151k (+926%), an average of +117% a year. The sharpest change came in the year to December 2021, when income rose by 1231%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Whitehaven Economic Development Corporation sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 48th percentile within TN. Charities of a similar size with the same main cause include Agape Village ($151k), Next Step Housing Corporation ($151k) and White Mountain Coalition Against Homelessness ($151k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.9% of the total. At year end it held assets of $42k against liabilities of $0, net assets of $42k. It reported 1 employees.