Amplify Equity Inc

Analysis

Amplify Equity Inc is a registered charity in United States, based in Elmira, NY. It received its IRS tax-exemption ruling in September 1999, 27 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 December 2023, Amplify Equity Inc reported income of $147k and spending of $172k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $94k to $147k (+57%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 1012%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Amplify Equity Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 45th percentile within NY. Charities of a similar size with the same main cause include Kansas Nonprofit Chamber Inc ($147k), Womens Care Center of Bartow Inc ($147k) and Durant Main Street ($147k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $69k (40% of expenses). Other salaries and wages came to $34k. At year end it held assets of $387k against liabilities of $317k, net assets of $70k. It reported 3 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.