Watson Economic Development Associates Inc

Analysis

Watson Economic Development Associates Inc is a registered charity in United States, based in Ellicott City, MD. It received its IRS tax-exemption ruling in April 2017, 9 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, Watson Economic Development Associates Inc reported income of $192k and spending of $192k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $39k to $192k (+391%), an average of +49% a year. The sharpest change came in the year to December 2021, when income rose by 392%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Watson Economic Development Associates Inc 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 53rd percentile within MD. Charities of a similar size with the same main cause include Berea Community Development Corporation ($192k), Friends of the Long Beach Firefighters ($193k) and Northeast Kingdom Organizing Inc ($192k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% of the total. At year end it held assets of $743k against liabilities of $538k, net assets of $205k.