Financial Empowerment Network

Analysis

Financial Empowerment Network is a registered charity in United States, based in Renton, WA. 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 December 2023, Financial Empowerment Network reported income of $308k and spending of $261k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $190k to $308k (+62%), an average of +62% a year. The sharpest change came in the year to December 2023, when income rose by 62%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Financial Empowerment Network sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within WA. Charities of a similar size with the same main cause include Perdido Beach Volunteer Fire Department Inc ($308k), Hidden Treasures ($308k) and Holy Spirit Retirement Home Foundation Inc ($308k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $94k (36% of expenses). Other salaries and wages came to $26k. At year end it held assets of $327k against liabilities of $1,893, net assets of $325k. It reported 2 employees.