Alteco

Analysis

Alteco is a registered charity in United States, based in Lakewood, CO. It received its IRS tax-exemption ruling in May 2007, 19 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 December 2023, Alteco reported income of $578k and spending of $505k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $297k to $578k (+95%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 698%. Over the whole period it spent 92% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Alteco sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within CO. Charities of a similar size with the same main cause include Feeding Families Ministry Inc ($578k), The Foundation of the Islamic Center of Greater Toledo Inc ($578k) and Storehouse Project Inc ($578k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $162k (32% of expenses). Other salaries and wages came to $54k. At year end it held assets of $258k against liabilities of $138k, net assets of $120k. It reported 4 employees.