Black Economic Development Coalition Inc

Analysis

Black Economic Development Coalition Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in March 1993, 33 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, Black Economic Development Coalition Inc reported income of $923k and spending of $1.1m, spending 115% of what it took in. The sharpest change came in the year to December 2021, when income dropped by 55%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Black Economic Development Coalition Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Hope Builders Career Connection ($923k), Copay Inc ($924k) and Hope Community Development Association Inc ($923k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $37k (3.4% of expenses). Other salaries and wages came to $241k. At year end it held assets of $7.3m against liabilities of $5.5m, net assets of $1.9m. It reported 6 employees.