Economic Mobility Corporation

Analysis

Economic Mobility Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2008, 18 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 September 2023, Economic Mobility Corporation reported income of $1.9m and spending of $673k, leaving 65% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.2m to $1.9m (+54%), an average of +11% a year. The sharpest change came in the year to September 2023, when income rose by 370%. Over the whole period it spent 47% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Economic Mobility Corporation sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include San Miguel Community Foundation ($1.9m), Kosciusko County Shelter for Abuse Inc ($1.9m) and Amity Society of Freeport Inc ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 92% and program service revenue 6.2% of the total. Compensation of current officers, directors and key employees was $465k (69% of expenses). At year end it held assets of $3.7m against liabilities of $127k, net assets of $3.6m. It reported 2 employees.