Economic Development Corporation of Shasta County

Analysis

Economic Development Corporation of Shasta County is a registered charity in United States, based in Redding, CA. It received its IRS tax-exemption ruling in April 1994, 32 years ago. 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, Economic Development Corporation of Shasta County reported income of $595k and spending of $583k, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $329k to $595k (+81%), an average of +16% a year. The sharpest change came in the year to June 2020, when income rose by 45%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Economic Development Corporation of Shasta County sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 74th percentile within CA. Charities of a similar size with the same main cause include Rise Scholars Incorporated ($595k), Community Christian Concern of Slidell ($595k) and Trumbull Manor Inc ($595k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 33% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $123k (21% of expenses). Other salaries and wages came to $150k. At year end it held assets of $513k against liabilities of $32k, net assets of $481k. It reported 5 employees.