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Queens Economic Development Corporation

EIN 11-2436149 · Kew Gardens, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood86 out of 100GovernanceStrong93 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

The Organization creates and retains jobs through establishing programs throughout neighborhoods that assist small businesses and promote tourism and business development.

Income
$4.2 million
Spending
$4.2 million
Spent on programs
87%
Reserves
6.5 months of spending
Largest source of income
government grants, 65%
Employees
19
Highest pay
$200,000, executive dir.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 86 out of 100. Higher than 74% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 6.5 months of spending.

  • Debt

    16 of 20

    It owes 16% of what it owns.

  • Living within its means

    12 of 15

    Income exceeded spending by 1% of income.

  • Income trend

    15 of 15

    Income rose 22% on the year before.

  • Spending floor

    15 of 15

    87% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 93 out of 100. Higher than 57% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    17 of 17 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $2.7 million spent. BUSINESS SEVICES & TRAINING: QEDC PROVIDES INDIVIDUAL COUNSELING, WORKSHOPS, ANDSEMINARS TO NEW AND EMERGING ENTREPRENEURS SEEKING TO OPEN AND OR GROW THEIRBUSINESS. TRAINING IS OFFERED IN BUSINESS PLAN PREPARATION THROUGH THE STARTUPBUSINESS COMPETITION AND THE ENTREPRENEURIAL ASSISTANCE PROGRAM. THE HOMEIMPROVEMENT CONTRACTOR TRAINING PROGRAM HELPS UNLICENSED HANDYMEN AND WOMEN RECEIVE THEIR NEW YORK CITY DEPARTMENT OF CONSUMER AFFAIRS LICENSES.
  2. $547,662 spent. ENTREPRENEUR SPACE:PROVIDES A COMMERCIAL KITCHEN AND OFFICE SPACE FOR NEW ANDGROWING FOOD-BASED BUSINESSES.THE INCUBATOR HAS ALL THE NECESSARY EQUIPMENTAND RESOURCES TO START A FOOD MANUFACTURING BUSINESS. THE INCUBATOR ALSOPROVIDES TECHNICAL AND BUSINESS COUNSELING AS WELL AS MARKETING OPPORTUNITIES.
  3. $365,168 spent. NEIGHBORHOOD DEVELOPMENT:WORKING WITH LOCAL BUSINESSES AND NEWLY FORMED MERCHANT'SORGANIZATIONS, THE QEDC PROVIDES ORGANIZATIONAL ASSISTANCE AND ADVICE TO IMPROVETHE MICRO-ECONOMY OF TARGETED NEIGHBORHOODS.QEDC ALSO PROVIDES GRAFFITI REMOVALPROGRAMS IN SEVERAL COMMUNITIES.THE PROGRAM ALSO PROMOTES TOURISM IN QUEENS.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 1977.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.