Dorchester Economic Development Corporation

Analysis

Dorchester Economic Development Corporation is a registered charity in United States, based in Summerville, SC. It received its IRS tax-exemption ruling in February 2018, 8 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, Dorchester Economic Development Corporation reported income of $489k and spending of $320k, leaving 35% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $225k to $489k (+117%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 77%. Over the whole period it spent 68% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Dorchester Economic Development Corporation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within SC. Charities of a similar size with the same main cause include Friends of Dugas Community Park Inc ($489k), Sutphin Boulevard District Management Association Inc ($489k) and Neighborhood Alliance of Okc Inc ($489k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% of the total. At year end it held assets of $589k against liabilities of $0, net assets of $589k.