Legal Momentum

Analysis

Legal Momentum is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1971, 55 years ago. 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, Legal Momentum reported income of $1.7m and spending of $2.1m, spending 120% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.4m to $1.7m (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2021, when income rose by 43%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Legal Momentum sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Be a Leader Foundation ($1.7m), Public Policy Institute of New York State Inc ($1.7m) and Fox Theater Foundation ($1.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $230k (11% of expenses). Other salaries and wages came to $925k. At year end it held assets of $2.4m against liabilities of $1.1m, net assets of $1.3m. It reported 25 employees.