Oremundo Inc

Analysis

Oremundo Inc is a registered charity in United States, based in Palmhurst, TX. It received its IRS tax-exemption ruling in October 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Oremundo Inc reported income of $143k and spending of $211k, spending 147% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $321k to $143k (-55%), an average of -55% a year. The sharpest change came in the year to December 2023, when income dropped by 55%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Oremundo Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 50th percentile within TX. Charities of a similar size with the same main cause include Institute of Contemporary Psychotherapy Inc ($143k), American Freedom Liberty Foundation Inc ($143k) and Articulate Foundation Inc ($143k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $55k against liabilities of $0, net assets of $55k.