Algiers Economic Development Foundation Inc

Analysis

Algiers Economic Development Foundation Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in January 2011, 15 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 June 2023, Algiers Economic Development Foundation Inc reported income of $277k and spending of $374k, spending 135% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $127k to $277k (+119%), an average of +30% a year. The sharpest change came in the year to June 2021, when income rose by 164%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Algiers Economic Development Foundation Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within LA. Charities of a similar size with the same main cause include Care-A-Lot Fund ($277k), Rein Center ($277k) and Community Services Agency of the Metro Washington Council Afl CIO ($277k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $71k (19% of expenses). Other salaries and wages came to $54k. At year end it held assets of $90k against liabilities of $3,279, net assets of $87k. It reported 2 employees.