Gulf Coast Economic Development District Inc

Analysis

Gulf Coast Economic Development District Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 1995, 31 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 2024, Gulf Coast Economic Development District Inc reported income of $2.1m and spending of $1.1m, leaving 49% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $265k to $2.1m (+708%), an average of +52% a year. The sharpest change came in the year to June 2021, when income rose by 1035%. Over the whole period it spent 50% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Gulf Coast Economic Development District Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Institute for Community Economics Inc ($2.1m), Womens Foundation of Arkansas ($2.1m) and Our Lady of America Ministries Inc ($2.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 93% and program service revenue 5.4% of the total. Other salaries and wages came to $225k. At year end it held assets of $7.2m against liabilities of $2.2m, net assets of $5.0m.