Wealthygen

Analysis

Wealthygen is a registered charity in United States, based in Hyattsville, MD. It received its IRS tax-exemption ruling in June 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Wealthygen reported income of $71k and spending of $82k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $53k to $71k (+33%), an average of +33% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 116% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wealthygen sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within MD. Charities of a similar size with the same main cause include Marion Cares Inc ($71k), Walla Walla Exchange Club Foundation ($71k) and Sacred Heart Gridley ($70k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.0% of the total. At year end it held assets of $18k against liabilities of $13k, net assets of $5,242.