Elmo Betterment Corporation

Analysis

Elmo Betterment Corporation is a registered charity in United States, based in Elmo, MO. It received its IRS tax-exemption ruling in August 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Elmo Betterment Corporation reported income of $82k and spending of $22k, leaving 73% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $131k to $82k (-37%), an average of -38% a year. The sharpest change came in the year to December 2023, when income dropped by 37%. Over the whole period it spent 13% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Elmo Betterment Corporation sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 29th percentile within MO. Charities of a similar size with the same main cause include Community Giving Assistance Towards Employment ($82k), California Federation of Womens Clubs ($82k) and Community Development Fund of Utah Inc ($82k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 56% of the total. At year end it held assets of $270k against liabilities of $0, net assets of $270k.