Southside First Economic Development Council

Analysis

Southside First Economic Development Council is a registered charity in United States, based in San Antonio, TX. 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, Southside First Economic Development Council reported income of $240k and spending of $346k, spending 144% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $325k to $240k (-26%), an average of -26% a year. The sharpest change came in the year to December 2023, when income dropped by 26%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southside First Economic Development Council sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Rotary Club of Redondo Beach Community Foundation ($240k), Thrive Economic Development Inc ($240k) and South East Area Coalition Inc ($240k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $29k (8.3% of expenses). Other salaries and wages came to $214k. At year end it held assets of $33k against liabilities of $0, net assets of $33k. It reported 8 employees.