Economic Opportunity Commission of Nassau County Inc

Analysis

Economic Opportunity Commission of Nassau County Inc is a registered charity in United States, based in Hempstead, NY. It received its IRS tax-exemption ruling in December 1971, 55 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 July 2023, Economic Opportunity Commission of Nassau County Inc reported income of $15.2m and spending of $15.4m, spending 101% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $11.4m to $15.2m (+33%), an average of +7.3% a year. The sharpest change came in the year to July 2022, when income rose by 19%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Economic Opportunity Commission of Nassau County Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Hope House Foundation Inc ($15.1m), Knights of Columbus Charities Inc ($15.2m) and H I R E D ($15.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $243k (1.6% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $9.8m against liabilities of $3.1m, net assets of $6.7m. It reported 245 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.