Pace Economic Development Corporation

Analysis

Pace Economic Development Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in November 1981, 45 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 March 2023, Pace Economic Development Corporation reported income of $300k and spending of $253k, spending 84% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $284k to $300k (+5.6%), an average of +1.8% a year. Over the whole period it spent 86% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Pace Economic Development Corporation sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within CA. Charities of a similar size with the same main cause include Pinegrove Development Corporation ($300k), Anayat House Inc ($300k) and Eskaton Clearlake Oaks Manor ($300k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 53% and program service revenue 47% of the total. At year end it held assets of $1.2m against liabilities of $1.8m, net assets of -$620k.