Erie Downtown Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 1,745,323 | 1,528,733 | 216,590 | 11.5 | 47% |
| 2021 | 1,459,098 | 1,440,032 | 19,066 | 12.1 | 45% |
| 2022 | 1,120,288 | 2,062,444 | −942,156 | 3.0 | 47% |
| 2023 | 1,570,549 | 2,629,964 | −1,059,415 | -1.8 | 41% |
In its most recent public year (2023), this organization spent $1,059,415 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-1.8 months), down from 11.5 in 2020. Staff pay was 41% of spending. $150,000 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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