Eagle Market Streets Development

Analysis

Eagle Market Streets Development is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in June 1995, 31 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2022, Eagle Market Streets Development reported income of $3.1m and spending of $2.5m, spending 82% of its income. Across the 5 years on record, from December 2018 to December 2022, income grew from $366k to $3.1m (+747%), an average of +71% a year. The sharpest change came in the year to December 2020, when income rose by 252%. Over the whole period it spent 66% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Eagle Market Streets Development sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Tricycle Foundation Inc ($3.1m), Uss Massachusetts Memorial Comm Inc ($3.1m) and Words Alive ($3.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $40k (1.6% of expenses). Other salaries and wages came to $717k. At year end it held assets of $4.9m against liabilities of $2.2m, net assets of $2.6m. It reported 26 employees.