Hastings Economic Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 562,176 | 315,341 | 246,835 | 132.8 | 60% |
| 2012 | 581,225 | 600,129 | −18,904 | 69.4 | 20% |
| 2013 | 614,303 | 651,222 | −36,919 | 63.3 | 14% |
| 2014 | 489,521 | 496,738 | −7,217 | 82.8 | 17% |
| 2015 | 275,806 | 205,377 | 70,429 | 204.3 | 47% |
| 2016 | 351,075 | 301,525 | 49,550 | 141.1 | 51% |
| 2017 | 346,456 | 387,480 | −41,024 | 108.6 | 46% |
| 2018 | 2,723,809 | 255,519 | 2,468,290 | 280.5 | 29% |
| 2019 | 1,914,152 | 426,610 | 1,487,542 | 209.9 | 38% |
| 2020 | 758,520 | 489,503 | 269,017 | 189.5 | 24% |
| 2021 | 983,781 | 445,843 | 537,938 | 222.5 | 26% |
| 2022 | −1,351,105 | 429,271 | −1,780,376 | 181.4 | 33% |
| 2023 | 230,012 | 718,308 | −488,296 | 100.2 | 31% |
In its most recent public year (2023), this organization spent $488,296 more than it brought in. Its reserves stood at about 100.2 months of spending, down from 132.8 in 2011. Staff pay was 31% of spending. $1,633,001 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
Hastings Economic Development Corporation's IRS filings as a feed — one entry per filing year, through 2023. Add the address to any feed reader; in Slack, send /feed subscribe with it (pasting the link alone won't subscribe). How this feed works