Equip for Equality Inc

Analysis

Equip for Equality Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1985, 41 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 September 2023, Equip for Equality Inc reported income of $9.4m and spending of $9.3m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.9m to $9.4m (+19%), an average of +4.5% a year. The sharpest change came in the year to September 2022, when income rose by 22%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Equip for Equality Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Heart of Illinois United Way Inc ($9.4m), Harmony Foundation Inc ($9.4m) and Tri-County Child and Family Development Council Inc ($9.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 92% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $699k (7.5% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $5.6m against liabilities of $2.2m, net assets of $3.3m. It reported 76 employees.