Matrix Community Outreach Center Inc

Analysis

Matrix Community Outreach Center Inc is a registered charity in United States, based in Defuniak Springs, FL. It received its IRS tax-exemption ruling in June 2015, 11 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 December 2021, Matrix Community Outreach Center Inc reported income of $1.1m and spending of $1.1m, spending 104% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $767k to $1.1m (+44%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 287%. 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, Matrix Community Outreach Center Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include Soup Kitchen 411 Inc ($1.1m), Upstate Theater Coalition for a Fairgame Inc ($1.1m) and Keys Area Interdenominational Resources ($1.1m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 14% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $54k (4.7% of expenses). Other salaries and wages came to $7,013. At year end it held assets of $386k against liabilities of $158k, net assets of $228k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.