Georgia Corporation for Economic Development

Analysis

Georgia Corporation for Economic Development is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in September 1994, 32 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, Georgia Corporation for Economic Development reported income of $1.8m and spending of $1.9m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $1.8m (+20%), an average of +4.6% a year. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Georgia Corporation for Economic Development sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within GA. Charities of a similar size with the same main cause include Hampton-Newport News Community Services Board Property Company ($1.8m), Phoenix Employment Services of Wilmington Inc ($1.8m) and Digital Bridge Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $3.7m against liabilities of $52k, net assets of $3.6m.