Lincoln Economic Advancement & Development Inc

Analysis

Lincoln Economic Advancement & Development Inc is a registered charity in United States, based in Lincoln, IL. It received its IRS tax-exemption ruling in April 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, Lincoln Economic Advancement & Development Inc reported income of $95k and spending of $139k, spending 147% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $228k to $95k (-58%), an average of -58% a year. The sharpest change came in the year to December 2023, when income dropped by 58%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lincoln Economic Advancement & Development Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 36th percentile within IL. Charities of a similar size with the same main cause include Southwest United Communities Inc ($95k), Legacy Builders Foundation Inc ($95k) and Boulder City Sunrise Rotary Foundation ($95k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $100k (72% of expenses). At year end it held assets of $549k against liabilities of $301k, net assets of $248k.