Suwannee River Economic Council Inc

Analysis

Suwannee River Economic Council Inc is a registered charity in United States, based in Live Oak, FL. It received its IRS tax-exemption ruling in June 1966, 60 years ago. 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 September 2023, Suwannee River Economic Council Inc reported income of $11.4m and spending of $11.1m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $8.9m to $11.4m (+29%), an average of +6.5% a year. The sharpest change came in the year to September 2020, when income rose by 16%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Suwannee River Economic Council Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Hospice & Palliative Care of the Blue Ridge Inc ($11.4m), Tampa Bay Bowl Association Inc ($11.4m) and Valencia College Foundation ($11.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 88% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $301k (2.7% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $11.6m against liabilities of $1.0m, net assets of $10.6m. It reported 116 employees.