Momentum Community

Analysis

Momentum Community is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in September 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Momentum Community reported income of $2.0m and spending of $1.5m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $637k to $2.0m (+211%), an average of +33% a year. The sharpest change came in the year to December 2020, when income rose by 132%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Momentum Community sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Springville Community and Rural Foundation Inc ($2.0m), Habib University Foundation US ($2.0m) and Carson Scholars Fund Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $165k (11% of expenses). Other salaries and wages came to $628k. At year end it held assets of $1.7m against liabilities of $1,967, net assets of $1.7m. It reported 12 employees.