Mypower Inc

Analysis

Mypower Inc is a registered charity in United States, based in Hobbs, NM. It received its IRS tax-exemption ruling in October 2009, 17 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 2024, Mypower Inc reported income of $259k and spending of $425k, spending 164% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $710k to $259k (-64%), an average of -22% a year. The sharpest change came in the year to June 2024, when income dropped by 42%. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mypower Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within NM. Charities of a similar size with the same main cause include Open Style Lab Inc ($259k), Farm to Fight Hunger ($259k) and Laney Memorial Tournament ($259k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 87% of the total. Other salaries and wages came to $152k. At year end it held assets of $1.0m against liabilities of $12k, net assets of $997k. It reported 10 employees.