South Texas Economic Development Corporation Inc

Analysis

South Texas Economic Development Corporation Inc is a registered charity in United States, based in Weslaco, TX. It received its IRS tax-exemption ruling in April 2013, 13 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2022, South Texas Economic Development Corporation Inc reported income of $254k and spending of $196k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2018 to December 2022, income fell from $1.2m to $254k (-79%), an average of -32% a year. The sharpest change came in the year to December 2019, when income dropped by 80%. Over the whole period it spent 59% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, South Texas Economic Development Corporation Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 63rd percentile within TX. Charities of a similar size with the same main cause include Golden Ridge Housing Inc ($253k), Caruthersville Senior Citizens Housing Inc ($254k) and Partnership Housing Affordable to Society Everywhere ($253k).

Compensation of current officers, directors and key employees was $37k (19% of expenses). At year end it held assets of $1.6m against liabilities of $160k, net assets of $1.5m. It reported 2 employees.