Arcata Economic Development Corporation

Analysis

Arcata Economic Development Corporation is a registered charity in United States, based in Eureka, CA. It received its IRS tax-exemption ruling in October 1980, 46 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 2024, Arcata Economic Development Corporation reported income of $5.3m and spending of $4.5m, spending 85% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.2m to $5.3m (+358%), an average of +46% a year. The sharpest change came in the year to June 2022, when income rose by 84%. Over the whole period it spent 68% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Arcata Economic Development Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Heart of Oregon Corps Inc ($5.3m), Small Business Majority Foundation Inc ($5.3m) and Common Future ($5.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 82% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $134k (3.0% of expenses). Other salaries and wages came to $497k. At year end it held assets of $14.5m against liabilities of $8.2m, net assets of $6.3m. It reported 14 employees.