Explorationworks Inc

Analysis

Explorationworks Inc is a registered charity in United States, based in Helena, MT. It received its IRS tax-exemption ruling in March 2002, 24 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 December 2023, Explorationworks Inc reported income of $916k and spending of $931k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $689k to $916k (+33%), an average of +7.4% a year. The sharpest change came in the year to December 2020, when income rose by 31%. 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, Explorationworks Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within MT. Charities of a similar size with the same main cause include Methodist Fam Center Preschool Inc ($916k), El Dorado County Junior Livestock Auction Committee Corpor ($916k) and District of Vincennes of the Society of St Vincent de Paul Inc ($916k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $78k (8.4% of expenses). Other salaries and wages came to $436k. At year end it held assets of $1.6m against liabilities of $66k, net assets of $1.5m. It reported 41 employees.

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.