North Carolina Economic Development Association Foundation Inc

Analysis

North Carolina Economic Development Association Foundation Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 2021, 5 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, North Carolina Economic Development Association Foundation Inc reported income of $191k and spending of $113k, leaving 41% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income fell from $248k to $191k (-23%), an average of -23% a year. The sharpest change came in the year to June 2023, when income dropped by 23%. Over the whole period it spent 43% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, North Carolina Economic Development Association Foundation Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 50th percentile within NC. Charities of a similar size with the same main cause include Rotary Club of Ventura-East Foundation Inc ($191k), Chicago Summer Finance Institute Inc ($191k) and Los Angeles Emergency Preparedness Foundation ($191k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.9% of the total. At year end it held assets of $279k against liabilities of $0, net assets of $279k.