Phi Omega Incorporated

Analysis

Phi Omega Incorporated is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in September 1988, 38 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Phi Omega Incorporated reported income of $233k and spending of $175k, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $271k to $233k (-14%), an average of -3.7% a year. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phi Omega Incorporated sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within NC. Charities of a similar size with the same main cause include Classroom of the Future Foundation ($233k), Central States Conference of the Teaching of Foreign Lang Inc ($233k) and Wichita Independent Neighborhoods Inc ($233k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $565k against liabilities of $73k, net assets of $493k.