Generation US

Analysis

Generation US is a registered charity in United States, based in Augusta, ME. It received its IRS tax-exemption ruling in January 2018, 8 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Generation US reported income of $3.0m and spending of $1.9m, leaving 38% of income unspent that year. Across the 6 years on record, from December 2019 to June 2024, income grew from $1.3m to $3.0m (+133%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 188%. Over the whole period it spent 65% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Generation US sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within ME. Charities of a similar size with the same main cause include Lafayette Industries North Inc ($3.0m), Spedd Inc ($3.0m) and Handi Shop Industries Inc ($3.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $791k (42% of expenses). Other salaries and wages came to $508k. At year end it held assets of $5.0m against liabilities of $153k, net assets of $4.8m. It reported 10 employees.