Eight Million Stories Inc

Analysis

Eight Million Stories Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Eight Million Stories Inc reported income of $1.3m and spending of $1.6m, spending 123% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $735k to $1.3m (+75%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 59%. Over the whole period it spent 79% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Eight Million Stories Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include Salt Fork YMCA ($1.3m), Girls Incorporated of Shelbyville Shelby County ($1.3m) and Boys & Girls Clubs of Southern Nevada Foundation Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 6.5% of the total. Compensation of current officers, directors and key employees was $403k (26% of expenses). At year end it held assets of $917k against liabilities of $30k, net assets of $887k.