Change Machine

Analysis

Change Machine is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in November 2007, 19 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 September 2023, Change Machine reported income of $1.3m and spending of $4.5m, spending 340% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $5.3m to $1.3m (-75%), an average of -29% a year. The sharpest change came in the year to September 2023, when income dropped by 79%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Change Machine sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Child Care Network Inc ($1.3m), Tiny Tots and Little Tykes Pre-School Inc ($1.3m) and Teen Health Mississippi ($1.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 56% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $288k (6.4% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $3.5m against liabilities of $865k, net assets of $2.6m. It reported 37 employees.