Grand Avenue Economic Community Development Corp

Analysis

Grand Avenue Economic Community Development Corp is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in December 1992, 34 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, Grand Avenue Economic Community Development Corp reported income of $8.1m and spending of $8.1m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.2m to $8.1m (+55%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 33%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grand Avenue Economic Community Development Corp sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Johnston County Industries Inc ($8.0m), Waterloo Greenway Conservancy ($8.1m) and Baltimore Corps Inc ($8.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $122k (1.5% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $17.5m against liabilities of $7.1m, net assets of $10.3m.