Tri-County Economic Development Charitable Corporation

Analysis

Tri-County Economic Development Charitable Corporation is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in July 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, Tri-County Economic Development Charitable Corporation reported income of $1.2m and spending of $565k, leaving 52% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income fell from $2.2m to $1.2m (-45%), an average of -45% a year. The sharpest change came in the year to June 2023, when income dropped by 45%. Over the whole period it spent 17% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Tri-County Economic Development Charitable Corporation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within KY. Charities of a similar size with the same main cause include Carondelet Community Betterment Federation Inc ($1.2m), Physician Assistant Foundation of the American Academy of Physician ($1.2m) and Avery Association for Exceptional Citizens Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $209k (37% of expenses). Other salaries and wages came to $152k. At year end it held assets of $2.9m against liabilities of $133k, net assets of $2.8m.