Haines Economic Development Corporation

Analysis

Haines Economic Development Corporation is a registered charity in United States, based in Haines, AK. It received its IRS tax-exemption ruling in April 2019, 7 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, Haines Economic Development Corporation reported income of $186k and spending of $78k, leaving 58% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income fell from $358k to $186k (-48%), an average of -48% a year. The sharpest change came in the year to June 2023, when income dropped by 48%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Haines Economic Development Corporation 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 48th percentile within AK. Charities of a similar size with the same main cause include Fuel Foundation ($186k), Redlands Optimist Club Foundation Inc ($186k) and Charlies Place ($186k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. At year end it held assets of $71k against liabilities of $5,055, net assets of $66k.