Bastrop Economic Development Corporation

Analysis

Bastrop Economic Development Corporation is a registered charity in United States, based in Bastrop, TX. It received its IRS tax-exemption ruling in April 2022, 4 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 September 2020, Bastrop Economic Development Corporation reported income of $3.6m and spending of $3.5m, spending 98% of its income. Across the 2 years on record, from September 2019 to September 2020, income grew from $2.9m to $3.6m (+23%), an average of +23% a year. The sharpest change came in the year to September 2020, when income rose by 23%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bastrop Economic Development Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Pie Ranch ($3.6m), Human Resource Development Foundation Inc ($3.6m) and Meatpacking District Management Association Inc ($3.6m).

Compensation of current officers, directors and key employees was $256k (7.3% of expenses). Other salaries and wages came to $62k. At year end it held assets of $10.5m against liabilities of $6.6m, net assets of $4.0m.