My XP Inc

Analysis

My XP Inc is a registered charity in United States, based in Midvale, UT. It received its IRS tax-exemption ruling in August 2017, 9 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, My XP Inc reported income of $348k and spending of $352k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $302k to $348k (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 100% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, My XP Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within UT. Charities of a similar size with the same main cause include Sikh Study Circle ($348k), Kissing Well NFP ($348k) and Small World Connections Ministry ($348k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $169k (48% of expenses). At year end it held assets of $57k against liabilities of $51k, net assets of $5,973. It reported 2 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.