The Ward Economic Development Corporation

Analysis

The Ward Economic Development Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 1992, 34 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 December 2023, The Ward Economic Development Corporation reported income of $2.1m and spending of $2.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.1m (+73%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 444%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Ward 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 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Mid Fairfield AIDS Project Inc ($2.1m), Council on Education for Public Health ($2.1m) and Pregnancy Aid Clinic Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 8.3% of the total. Compensation of current officers, directors and key employees was $65k (3.1% of expenses). Other salaries and wages came to $79k. At year end it held assets of $7.5m against liabilities of $4.3m, net assets of $3.1m.