Maui Economic Development Board Inc Medb

Analysis

Maui Economic Development Board Inc Medb is a registered charity in United States, based in Kihei, HI. It received its IRS tax-exemption ruling in March 1984, 42 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, Maui Economic Development Board Inc Medb reported income of $6.8m and spending of $5.7m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.3m to $6.8m (+58%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 93%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maui Economic Development Board Inc Medb 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 93rd percentile, and in the 94th percentile within HI. Charities of a similar size with the same main cause include Northwest Community Hospital Foundation ($6.8m), Independent Scholarship Inc ($6.8m) and Proprietors of the Social Law Library ($6.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $124k (2.2% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $12.1m against liabilities of $6.8m, net assets of $5.3m. It reported 26 employees.