Echols Place Corporation

Analysis

Echols Place Corporation is a registered charity in United States, based in Farmington, NM. It received its IRS tax-exemption ruling in September 2005, 21 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Echols Place Corporation reported income of $97k and spending of $129k, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $105k to $97k (-7.7%), an average of -2.0% a year. The sharpest change came in the year to June 2022, when income dropped by 20%. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Echols Place Corporation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 31st percentile within NM. Charities of a similar size with the same main cause include Genesis II Apartments Inc ($97k), Argonaut House 2 ($97k) and Ozark Meadow Apartments Inc ($97k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 30% of the total. Other salaries and wages came to $11k. At year end it held assets of $913k against liabilities of $1.3m, net assets of -$347k.

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.