Wayne Action Group for Economic Solvency Inc

Analysis

Wayne Action Group for Economic Solvency Inc is a registered charity in United States, based in Goldsboro, NC. It received its IRS tax-exemption ruling in June 1967, 59 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 June 2023, Wayne Action Group for Economic Solvency Inc reported income of $16.5m and spending of $15.4m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.3m to $16.5m (+24%), an average of +5.5% a year. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wayne Action Group for Economic Solvency Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Homeless Health Care Los Angeles ($16.5m), Nueces County Community Action Agency ($16.5m) and Choices in Community Living Inc ($16.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $303k (2.0% of expenses). Other salaries and wages came to $6.4m. At year end it held assets of $8.6m against liabilities of $799k, net assets of $7.8m. It reported 288 employees.