Financial Education Associates Inc

Analysis

Financial Education Associates Inc is a registered charity in United States, based in Roxbury, MA. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Financial Education Associates Inc reported income of $220k and spending of $167k, leaving 24% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $233k to $220k (-5.8%), an average of -5.8% a year. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Financial Education Associates Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 59th percentile within MA. Charities of a similar size with the same main cause include The Second Mile Center of Detroit ($220k), Kings and Queens International ($220k) and Eis Family A38 ($220k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $89k (53% of expenses). Other salaries and wages came to $24k. At year end it held assets of $234k against liabilities of $3,993, net assets of $230k. It reported 5 employees.