Crossett Economic Development Foundation

Analysis

Crossett Economic Development Foundation is a registered charity in United States, based in Crossett, AR. It received its IRS tax-exemption ruling in December 2001, 25 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, Crossett Economic Development Foundation reported income of $973k and spending of $938k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $679k to $973k (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2023, when income rose by 61%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Crossett Economic Development Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within AR. Charities of a similar size with the same main cause include Snowy Mountain Development Corporation ($973k), Texas Rural Funders ($973k) and Assets Lancaster ($973k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 45% of the total. Other salaries and wages came to $156k. At year end it held assets of $2.1m against liabilities of $164k, net assets of $1.9m. It reported 2 employees.