Odyssey Impact Inc

Analysis

Odyssey Impact Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1989, 37 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Odyssey Impact Inc reported income of $246k and spending of $1.9m, spending 774% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.3m to $246k (-93%), an average of -48% a year. The sharpest change came in the year to December 2023, when income dropped by 89%. Over the whole period it spent 125% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Odyssey Impact Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 55th percentile within NY. Charities of a similar size with the same main cause include Empowered Church Ministries ($246k), St Thomas Orthodox Church of Washington ($246k) and Healers House Family Church Inc ($246k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $175k (9.2% of expenses). Other salaries and wages came to $553k. At year end it held assets of $463k against liabilities of $1.7m, net assets of -$1.3m. It reported 8 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.