Drive Change Inc

Analysis

Drive Change Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover employment, which this site groups under community and economic 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 December 2023, Drive Change Inc reported income of $2.7m and spending of $1.8m, leaving 33% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $653k to $2.7m (+309%), an average of +33% a year. The sharpest change came in the year to December 2019, when income rose by 114%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Drive Change Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Kansas Municipal Utilities Inc ($2.7m), Short North Alliance Inc ($2.7m) and Golden Rule Industries of Muskogee Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $246k (14% of expenses). Other salaries and wages came to $590k. At year end it held assets of $3.4m against liabilities of $1.6m, net assets of $1.8m. It reported 59 employees.