Economic Development Partnership of Alabama Foundation Inc

Analysis

Economic Development Partnership of Alabama Foundation Inc is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in April 1996, 30 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Economic Development Partnership of Alabama Foundation Inc reported income of $1.9m and spending of $2.9m, spending 153% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $1.9m (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2022, when income rose by 405%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Economic Development Partnership of Alabama Foundation Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within AL. Charities of a similar size with the same main cause include Steamboat Institute ($1.9m), Chiarts Foundation ($1.9m) and Hutchinson River Education Foundation Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 3.0% of the total. At year end it held assets of $7.0m against liabilities of $136k, net assets of $6.8m.