Monroe County Il Economic Development Corporation

Analysis

Monroe County Il Economic Development Corporation is a registered charity in United States, based in Waterloo, IL. It received its IRS tax-exemption ruling in August 2016, 10 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, Monroe County Il Economic Development Corporation reported income of $232k and spending of $148k, leaving 36% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $147k to $232k (+58%), an average of +58% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 70% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Monroe County Il Economic Development Corporation sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within IL. Charities of a similar size with the same main cause include Tri-City Collective Inc ($232k), Economic Development Unit Inc ($232k) and Minority Business Association Joint Ventures Inc ($232k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $70k (47% of expenses). Other salaries and wages came to $10k. At year end it held assets of $259k against liabilities of $0, net assets of $259k. It reported 2 employees.