Networks Inc

Analysis

Networks Inc is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in October 1980, 46 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Networks Inc reported income of $449k and spending of $461k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $948k to $449k (-53%), an average of -17% a year. The sharpest change came in the year to December 2022, when income dropped by 37%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Networks Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 63rd percentile within VT. Charities of a similar size with the same main cause include West Virginia Behavioral Health Care Providers Association Inc ($449k), The Colony Band Booster Club Inc ($449k) and Christian Hope Indian Eskimo Fellowship ($449k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 103% of the total. Compensation of current officers, directors and key employees was $165k (36% of expenses). Other salaries and wages came to $206k. At year end it held assets of -$1,526 against liabilities of $3,198, net assets of -$4,724. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.