Bloomington Economic Development Corporation
EIN: 351534667 · Bloomington, IN
| Metric | Value |
|---|---|
| Total Revenue | $589K |
| Total Expenses | $584K |
| Net Assets | $451K |
Is Bloomington Economic Development Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Bloomington Economic Development Corporation
Bloomington Economic Development Corporation (EIN: 351534667) is a nonprofit organization based in Bloomington, IN. The organization reported total revenue of $589K and total assets of $628K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bloomington Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bloomington Economic Development Corporation is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $563K |
| Total Expenses | $584K |
| Surplus / Deficit | $-20,679 |
| Total Assets | $630K |
| Total Liabilities | $179K |
| Net Assets | $451K |
| Operating Margin | -3.7% |
| Debt-to-Asset Ratio | 28.4% |
| Months of Reserves | 12.9 months |
Financial Health Grade: B
In 2023, Bloomington Economic Development Corporation reported a deficit of $21K with expenses exceeding revenue, holds 12.9 months of operating reserves (strong position), has a debt-to-asset ratio of 28.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bloomington Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.6% | +4.9% | -1.2% |
| 2022 | +35.4% | +50.6% | +13.3% |
| 2021 | -3.8% | -6.1% | +13.7% |
| 2020 | +0.1% | -9.7% | +10.7% |
| 2019 | -0.4% | +-0.0% | -0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Bloomington Economic Development Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bloomington Economic Development Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $21K, with expenses exceeding revenue.
- Debt-to-asset ratio: 28.4%.
Frequently Asked Questions about Bloomington Economic Development Corporation
Is Bloomington Economic Development Corporation a legitimate charity?
Bloomington Economic Development Corporation (EIN: 351534667) is a registered tax-exempt nonprofit based in Indiana. It has 13 years of IRS 990 filings on record. Total revenue: $589K. No red flags identified. Financial health grade: B.
How does Bloomington Economic Development Corporation spend its money?
Bloomington Economic Development Corporation reported $589K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Bloomington Economic Development Corporation tax-deductible?
Bloomington Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 351534667). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Bloomington Economic Development Corporation located?
Bloomington Economic Development Corporation is headquartered in Bloomington, Indiana and files with the IRS under EIN 351534667.
How many years of IRS 990 filings does Bloomington Economic Development Corporation have?
Bloomington Economic Development Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $589K in total revenue.
Filing History
IRS 990 filing history for Bloomington Economic Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bloomington Economic Development Corporation's revenue has grown by 54%, moving from $366K to $563K. Total assets increased by 44.1% over the same period, from $437K to $630K. Total functional expenses rose by 64.3%, from $356K to $584K. In its most recent filing year (2023), Bloomington Economic Development Corporation reported a deficit of $21K, with expenses exceeding revenue. The organization holds $179K in liabilities against $630K in assets (debt-to-asset ratio: 28.4%), resulting in net assets of $451K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $563K | $584K | $630K | $179K | — | — |
| 2022 | $591K | $557K | $637K | $166K | — | View 990 |
| 2021 | $436K | $370K | $562K | $125K | — | View 990 |
| 2020 | $454K | $394K | $495K | $124K | — | View 990 |
| 2019 | $453K | $436K | $447K | $120K | — | — |
| 2018 | $455K | $436K | $449K | $131K | — | View 990 |
| 2017 | $437K | $455K | $435K | $134K | — | View 990 |
| 2016 | $432K | $399K | $452K | $134K | — | View 990 |
| 2015 | $443K | $482K | $401K | $115K | — | View 990 |
| 2014 | $432K | $434K | $402K | $77K | — | View 990 |
| 2013 | $406K | $412K | $417K | $89K | — | View 990 |
| 2012 | $373K | $370K | $440K | $106K | — | View 990 |
| 2011 | $366K | $356K | $437K | $106K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $563K, expenses of $584K, and assets of $630K (revenue -4.6% year-over-year).
- 2022: Revenue of $591K, expenses of $557K, and assets of $637K (revenue +35.4% year-over-year).
- 2021: Revenue of $436K, expenses of $370K, and assets of $562K (revenue -3.8% year-over-year).
- 2020: Revenue of $454K, expenses of $394K, and assets of $495K (revenue +0.1% year-over-year).
- 2019: Revenue of $453K, expenses of $436K, and assets of $447K (revenue -0.4% year-over-year).
- 2018: Revenue of $455K, expenses of $436K, and assets of $449K (revenue +4.1% year-over-year).
- 2017: Revenue of $437K, expenses of $455K, and assets of $435K (revenue +1.2% year-over-year).
- 2016: Revenue of $432K, expenses of $399K, and assets of $452K (revenue -2.5% year-over-year).
- 2015: Revenue of $443K, expenses of $482K, and assets of $401K (revenue +2.5% year-over-year).
- 2014: Revenue of $432K, expenses of $434K, and assets of $402K (revenue +6.2% year-over-year).
- 2013: Revenue of $406K, expenses of $412K, and assets of $417K (revenue +8.9% year-over-year).
- 2012: Revenue of $373K, expenses of $370K, and assets of $440K (revenue +2.1% year-over-year).
- 2011: Revenue of $366K, expenses of $356K, and assets of $437K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bloomington Economic Development Corporation:
Data Sources and Methodology
This transparency report for Bloomington Economic Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.