Momentum Network

Analysis

Momentum Network is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 June 2023, Momentum Network reported income of $247k and spending of $323k, spending 131% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $91k to $247k (+171%), an average of +39% a year. The sharpest change came in the year to June 2021, when income rose by 113%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Momentum Network sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 59th percentile within TN. Charities of a similar size with the same main cause include Big Spring Area Chamber of Commerce Charitable Trust 1 ($247k), Oklahoma Safety Center Inc ($247k) and New Horizons School ($247k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $68k (21% of expenses). Other salaries and wages came to $133k. At year end it held assets of $61k against liabilities of $6,308, net assets of $55k. It reported 12 employees.