Lassen Economic Development Corp

Analysis

Lassen Economic Development Corp is a registered charity in United States, based in Westwood, CA. It received its IRS tax-exemption ruling in June 1989, 37 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, Lassen Economic Development Corp reported income of $922k and spending of $932k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $600k to $922k (+54%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lassen Economic Development Corp sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Usc Columbia Technology Incubator ($922k), Heartland Lakes Development Commission ($922k) and Vigilant Hope Inc ($921k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $200k. At year end it held assets of $253k against liabilities of $48k, net assets of $205k. It reported 6 employees.