Ujamaa Economic Development Corporation

Analysis

Ujamaa Economic Development Corporation is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in February 2020, 6 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 December 2023, Ujamaa Economic Development Corporation reported income of $295k and spending of $488k, spending 165% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $283k to $295k (+4.5%), an average of +1.5% a year. The sharpest change came in the year to December 2021, when income rose by 184%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ujamaa Economic Development Corporation sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within LA. Charities of a similar size with the same main cause include Junior League of MPLS ($295k), Shiloh Community Development Corporation ($295k) and Western Slope Joint Apprenticeship & Training Committee ($295k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $95k (19% of expenses). Other salaries and wages came to $49k. At year end it held assets of $896k against liabilities of $95k, net assets of $801k. It reported 2 employees.