Racine County Economic Development Corporation

Analysis

Racine County Economic Development Corporation is a registered charity in United States, based in Sturtevant, WI. It received its IRS tax-exemption ruling in June 1996, 30 years ago. Its declared purposes cover human services, 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, Racine County Economic Development Corporation reported income of $2.6m and spending of $2.0m, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.6m (+46%), an average of +9.9% a year. The sharpest change came in the year to December 2021, when income rose by 120%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Racine County Economic Development Corporation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within WI. Charities of a similar size with the same main cause include Masterkey Ministries of Grayson County ($2.6m), Lakeside Hospice Inc ($2.6m) and Safe Alternatives to Violent Environments Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $217k (11% of expenses). Other salaries and wages came to $859k. At year end it held assets of $13.1m against liabilities of $1.4m, net assets of $11.7m. It reported 17 employees.