Economic Development & Financing Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 830,302 | 402,096 | 428,206 | 37.5 | 41% |
| 2021 | 1,287,962 | 424,839 | 863,123 | 59.9 | 31% |
| 2022 | 2,194,302 | 471,787 | 1,722,515 | 97.7 | 39% |
| 2023 | 1,087,868 | 470,019 | 617,849 | 113.9 | 44% |
In its most recent public year (2023), this organization brought in $617,849 more than it spent. Its reserves stood at about 113.9 months of spending, up from 37.5 in 2020. Staff pay was 44% of spending. $2,621 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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