Equip Inc

Analysis

Equip Inc is a registered charity in United States, based in Marion, NC. It received its IRS tax-exemption ruling in April 1986, 40 years ago. 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 2022, Equip Inc reported income of $2.2m and spending of $2.1m, spending 92% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.8m to $2.2m (+23%), an average of +7.2% a year. The sharpest change came in the year to December 2020, when income rose by 19%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Equip Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include City Leadership ($2.2m), Trinity Health Foundation ($2.2m) and Montessori Society of Champaign-Urbana Incorporated ($2.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $141k (6.8% of expenses). Other salaries and wages came to $902k. At year end it held assets of $2.1m against liabilities of $19k, net assets of $2.1m. It reported 34 employees.