Onewest Corporation

Analysis

Onewest Corporation is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, 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, Onewest Corporation reported income of $572k and spending of $1.6m, spending 272% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.0m to $572k (-81%), an average of -34% a year. The sharpest change came in the year to December 2023, when income dropped by 69%. Over the whole period it spent 64% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Onewest Corporation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within KY. Charities of a similar size with the same main cause include Kigali Center for Entrepreneurs ($572k), Womens Center for Entrepreneurship Corp ($573k) and Senior Village at Saddlebrooke Inc ($572k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $224k (14% of expenses). Other salaries and wages came to $466k. At year end it held assets of $6.4m against liabilities of $1.6m, net assets of $4.9m. It reported 15 employees.