Credit Unions Building Financial Independence Inc

Analysis

Credit Unions Building Financial Independence Inc is a registered charity in United States, based in Rocky Hill, CT. It received its IRS tax-exemption ruling in November 1980, 46 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Credit Unions Building Financial Independence Inc reported income of $110k and spending of $66k, leaving 40% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $148k to $110k (-26%), an average of -14% a year. The sharpest change came in the year to December 2022, when income dropped by 20%. Over the whole period it spent 66% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Credit Unions Building Financial Independence Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 37th percentile within CT. Charities of a similar size with the same main cause include Maquoketa Community Services Inc ($110k), Lexington Athletic Booster Club ($110k) and Association of University Professors of Neurology Inc ($110k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 3.6% of the total. At year end it held assets of $679k against liabilities of $182k, net assets of $496k. It reported 8 employees.