E Warren Development Corporation

Analysis

E Warren Development Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in March 2022, 4 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, E Warren Development Corporation reported income of $2.5m and spending of $641k, leaving 74% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $472k to $2.5m (+422%), an average of +422% a year. The sharpest change came in the year to December 2023, when income rose by 422%. Over the whole period it spent 25% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, E Warren Development Corporation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MI. Charities of a similar size with the same main cause include Crosstown Redevelopment Cooperative Association Inc ($2.5m), Calaveras Healthy Impact Product Solutions ($2.5m) and Chicagos Sunshine Enterprises Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $245k (38% of expenses). At year end it held assets of $2.5m against liabilities of $223k, net assets of $2.3m. It reported 3 employees.