Southwest Economic Solutions

Analysis

Southwest Economic Solutions is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in October 2014, 12 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 September 2023, Southwest Economic Solutions reported income of $2.9m and spending of $3.2m, spending 109% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $4.4m to $2.9m (-33%), an average of -9.6% a year. The sharpest change came in the year to September 2021, when income dropped by 15%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Southwest Economic Solutions sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within MI. Charities of a similar size with the same main cause include Charlotte Family Housing Inc ($2.9m), Claremont Neighborhood Centers Inc ($2.9m) and Options for Independence ($2.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $200k (6.3% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $1.9m against liabilities of $391k, net assets of $1.5m. It reported 49 employees.