Economic Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 467,153 | 461,162 | 5,991 | 8.5 | 64% |
| 2012 | 514,018 | 420,088 | 93,930 | 12.0 | 61% |
| 2013 | 568,783 | 382,617 | 186,166 | 19.1 | 49% |
| 2014 | 632,907 | 592,506 | 40,401 | 13.1 | 51% |
| 2015 | 1,029,619 | 615,102 | 414,517 | 20.7 | 52% |
| 2016 | 660,007 | 626,770 | 33,237 | 21.0 | 51% |
| 2017 | 683,352 | 531,122 | 152,230 | 28.2 | 62% |
| 2018 | 724,842 | 615,438 | 109,404 | 26.5 | 54% |
| 2019 | 618,344 | 524,273 | 94,071 | 31.1 | 60% |
| 2020 | 522,446 | 605,700 | −83,254 | 25.3 | 46% |
| 2021 | 540,715 | 677,640 | −136,925 | 20.2 | 50% |
| 2022 | 576,742 | 832,694 | −255,952 | 12.7 | 57% |
| 2023 | 637,594 | 715,135 | −77,541 | 13.5 | 56% |
In its most recent public year (2023), this organization spent $77,541 more than it brought in. Its reserves stood at about 13.5 months of spending, up from 8.5 in 2011. Staff pay was 56% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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