Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2000.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
71 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
3 people listed on the 990; $7K paid to officers and key staff.
Veda Shaw’s $7K as Secretary/Tr is at the 24th percentile of top reported officer pay among 168 <$100K community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Develops partnerships for youth, residents, and businesses through enterprise, housing, workforce, and leadership programs.
Questions for Light Economic and Development INC
Your first name shows with your question. Light Economic and Development INC answers here, for everyone.
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Light economic and development's purpose is housing development. The organization's housing programs focus on mortgage assistance, homebuyer training, affordable housing production, real estate acquisition, and community revitalization.
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $11K | $41K |
| Total assetsLn 16 | $53K | $66K |
| LiabilitiesLn 26 | $148K | $0 |
| Net assetsLn 32 | −$95K | $66K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $7K | $7K | ||
| Legal feesLn 11b | $4K | $4K | ||
| Office expensesLn 13 | $144 | $144 | ||
| Information technologyLn 14 | $330 | $330 | ||
| OccupancyLn 16 | $3K | $3K | ||
| TravelLn 17 | $143 | $143 | ||
| Depreciation, depletion and amortizationLn 22 | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $516 | $516 | ||
| Total functional expensesLn 25 | $17K | $12K | $5K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $2K | $3K | −$601 | $60K | 990 PDF |
| FY2024 | $0 | $61K | 990 PDF | ||
| FY2023 Viewing | $178K | $17K | $161K | $66K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $177,820 revenue, 12 lines filed
Part VI · Governance 1 of 3 board members independent, 5 to look at
Part VIII · Statement of revenue $177,820 across 3 lines filed
Part IX · Statement of functional expenses $16,722 across 8 lines filed
Part X · Balance sheet $66,176 assets, 6 lines filed
Part XI · Reconciliation of net assets $66,176 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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