Tacolcy Economic Development Corporation Inc

Analysis

Tacolcy Economic Development Corporation Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in January 1983, 43 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 December 2023, Tacolcy Economic Development Corporation Inc reported income of $4.8m and spending of $1.9m, leaving 60% of income unspent that year. Across the 4 years on record, from September 2021 to December 2023, income grew from $4.6m to $4.8m (+4.9%), an average of +1.6% a year. The sharpest change came in the year to December 2023, when income rose by 3002%. Over the whole period it spent 48% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Tacolcy Economic Development Corporation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Economic Growth Foundation ($4.8m), Larc Inc ($4.8m) and Manufacturing Skill Standards Council ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 95% of the total. Other salaries and wages came to $1.0m. At year end it held assets of $43.0m against liabilities of $3.2m, net assets of $39.8m. It reported 3 employees.