Economic Investment Fund of Henderson County Inc

Analysis

Economic Investment Fund of Henderson County Inc is a registered charity in United States, based in Hendersonvlle, NC. 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 (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 2023, Economic Investment Fund of Henderson County Inc reported income of $184k and spending of $59k, leaving 68% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $194k to $184k (-5.2%), an average of -1.3% a year. The sharpest change came in the year to June 2021, when income rose by 144%. Over the whole period it spent 12% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Economic Investment Fund of Henderson County Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 49th percentile within NC. Charities of a similar size with the same main cause include Albuquerque Rotary Charitable Foundation Inc ($184k), Floyd County Friends ($184k) and Rain Collective Incorporated ($184k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $2.4m against liabilities of $921k, net assets of $1.5m.