Moosehead Lake Region Economic Development Corp

Analysis

Moosehead Lake Region Economic Development Corp is a registered charity in United States, based in Greenville, ME. It received its IRS tax-exemption ruling in February 2015, 11 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Moosehead Lake Region Economic Development Corp reported income of $189k and spending of $87k, leaving 54% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $266k to $189k (-29%), an average of -8.2% a year. The sharpest change came in the year to December 2020, when income rose by 316%. Over the whole period it spent 31% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Moosehead Lake Region Economic Development Corp sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 45th percentile within ME. Charities of a similar size with the same main cause include Inspire Sheboygan County ($189k), Coalition for Economic Justice Inc ($189k) and Main Street Medina ($189k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 11% of the total. At year end it held assets of $1.8m against liabilities of $46k, net assets of $1.7m.