Echols Place II Corporation

Analysis

Echols Place II Corporation is a registered charity in United States, based in Farmington, NM. It received its IRS tax-exemption ruling in March 2007, 19 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Echols Place II Corporation reported income of $78k and spending of $127k, spending 163% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $72k to $78k (+8.0%), an average of +1.9% a year. The sharpest change came in the year to June 2023, when income dropped by 17%. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Echols Place II Corporation sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 26th percentile within NM. Charities of a similar size with the same main cause include Dima II Inc ($78k), Parc Place Inc ($78k) and On Deck Housing Inc ($78k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Other salaries and wages came to $14k. At year end it held assets of $852k against liabilities of $1.3m, net assets of -$424k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.