Schoharie Economic Enterprise Corporation

Analysis

Schoharie Economic Enterprise Corporation is a registered charity in United States, based in Schoharie, NY. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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, Schoharie Economic Enterprise Corporation reported income of $497k and spending of $425k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $709k to $497k (-30%), an average of -8.5% a year. The sharpest change came in the year to December 2022, when income dropped by 41%. Over the whole period it spent 56% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Schoharie Economic Enterprise Corporation sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Nashua Association for the Elderly Inc ($497k), Tiny Town Daycare Inc ($497k) and Charlottesville Abundant Life Ministries Inc ($497k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% of the total. Compensation of current officers, directors and key employees was $110k (26% of expenses). Other salaries and wages came to $93k. At year end it held assets of $1.3m against liabilities of $36k, net assets of $1.2m. It reported 5 employees.