Change Inc

Analysis

Change Inc is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in May 1970, 56 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 2023, Change Inc reported income of $8.1m and spending of $8.3m, spending 103% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $7.0m to $8.1m (+15%), an average of +7.4% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Change Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MN. Charities of a similar size with the same main cause include Lifewire ($8.0m), The Arc of Litchfield County Inc ($8.1m) and New Moms Inc ($8.0m).

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. Compensation of current officers, directors and key employees was $278k (3.4% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $4.8m against liabilities of $3.7m, net assets of $1.1m. It reported 123 employees.