Electricore Inc

Analysis

Electricore Inc is a registered charity in United States, based in Valencia, CA. It received its IRS tax-exemption ruling in December 1994, 32 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Electricore Inc reported income of $5.5m and spending of $5.5m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $5.5m (+222%), an average of +34% a year. The sharpest change came in the year to December 2021, when income rose by 209%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Electricore Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Handz-On Inc ($5.5m), Duke Juldec Services Inc ($5.5m) and Virginia Commonwealth University College of Engineering Foundation ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.1% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $883k (16% of expenses). Other salaries and wages came to $221k. At year end it held assets of $3.0m against liabilities of $2.7m, net assets of $386k. It reported 4 employees.