Carthage Economic Development Corporation

Analysis

Carthage Economic Development Corporation is a registered charity in United States, based in Carthage, TX. It received its IRS tax-exemption ruling in February 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Carthage Economic Development Corporation reported income of $958k and spending of $306k, leaving 68% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $655k to $958k (+46%), an average of +10% a year. The sharpest change came in the year to September 2023, when income rose by 23%. Over the whole period it spent 43% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carthage Economic Development Corporation 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 83rd percentile within TX. Charities of a similar size with the same main cause include Eldorado Church of God Homes Inc ($958k), West Bank Community Housing Corporation ($959k) and Boston Psychoanalytic Society and Institute Inc ($958k).

Compensation of current officers, directors and key employees was $102k (33% of expenses). At year end it held assets of $3.6m against liabilities of $46k, net assets of $3.5m. It reported 2 employees.