Multiplying Good Inc

Analysis

Multiplying Good Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1972, 54 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Multiplying Good Inc reported income of $4.2m and spending of $8.3m, spending 197% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.7m to $4.2m (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 110% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Multiplying Good Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include MGM Resorts Foundation ($4.2m), Athens Area Community Foundation Inc ($4.2m) and Ted and Drama Russell Family Foundation ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $317k (3.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $1.3m against liabilities of $1.9m, net assets of -$621k. It reported 55 employees.