Economic Opportunity Program Inc of Chemung County

Analysis

Economic Opportunity Program Inc of Chemung County is a registered charity in United States, based in Elmira, NY. It received its IRS tax-exemption ruling in February 1967, 59 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 June 2023, Economic Opportunity Program Inc of Chemung County reported income of $7.8m and spending of $7.7m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.1m to $7.8m (+29%), an average of +6.6% a year. The sharpest change came in the year to June 2022, when income rose by 21%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Economic Opportunity Program Inc of Chemung County sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Levite Jewish Community Center ($7.8m), Community Services Council of Brevard County Inc ($7.8m) and Piedmont Community Actions Inc ($7.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $233k (3.0% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $2.6m against liabilities of $1.7m, net assets of $925k. It reported 157 employees.