518 Elevated Inc

Analysis

518 Elevated Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in July 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2024, 518 Elevated Inc reported income of $454k and spending of $513k, spending 113% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $767k to $454k (-41%), an average of -12% a year. The sharpest change came in the year to June 2024, when income rose by 72%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, 518 Elevated 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 69th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Butler National Scholarship Fund Inc ($454k), Divas for Social Justice Inc ($454k) and Parent Teacher Association of P S 199 Inc ($454k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 79% and program service revenue 3.3% of the total. Other salaries and wages came to $163k. At year end it held assets of $2.0m against liabilities of $31k, net assets of $2.0m. It reported 7 employees.