Itasca Economic Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 606,287 | 802,200 | −195,913 | 7.0 | 19% |
| 2012 | 1,646,723 | 1,595,063 | 51,660 | 3.9 | 7% |
| 2013 | 892,186 | 730,190 | 161,996 | 11.2 | 27% |
| 2014 | 1,493,092 | 891,517 | 601,575 | 17.3 | 27% |
| 2015 | 660,617 | 689,045 | −28,428 | 21.9 | 37% |
| 2016 | 680,936 | 654,620 | 26,316 | 23.5 | 40% |
| 2017 | 657,258 | 622,080 | 35,178 | 25.4 | 44% |
| 2018 | 606,161 | 540,791 | 65,370 | 30.7 | 25% |
| 2019 | 891,583 | 622,180 | 269,403 | 31.9 | 38% |
| 2020 | 1,346,358 | 1,075,677 | 270,681 | 21.4 | 28% |
| 2021 | 1,851,180 | 1,533,383 | 317,797 | 17.5 | 27% |
| 2022 | 1,261,748 | 1,290,331 | −28,583 | 20.6 | 36% |
| 2023 | 2,376,295 | 1,267,232 | 1,109,063 | 31.4 | 36% |
In its most recent public year (2023), this organization brought in $1,109,063 more than it spent. Its reserves stood at about 31.4 months of spending, up from 7 in 2011. Staff pay was 36% of spending. $27,500 of its net assets are donor-restricted.
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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