Vietnamese Initiatives in Economic Training

Analysis

Vietnamese Initiatives in Economic Training is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in April 2002, 24 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 (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, Vietnamese Initiatives in Economic Training reported income of $387k and spending of $405k, spending 105% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $349k to $387k (+11%), an average of +2.1% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Vietnamese Initiatives in Economic Training sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within LA. Charities of a similar size with the same main cause include Land in Common Inc ($387k), Swiss Bear Inc ($387k) and Precursor Human Capital Development Inc ($387k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $73k (18% of expenses). Other salaries and wages came to $134k. At year end it held assets of $270k against liabilities of $89k, net assets of $181k. It reported 7 employees.