Olasteo Inc

Analysis

Olasteo Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 2019, 7 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, Olasteo Inc reported income of $72k and spending of $85k, spending 118% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $101k to $72k (-28%), an average of -28% a year. The sharpest change came in the year to December 2023, when income dropped by 28%. Over the whole period it spent 119% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Olasteo Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 31st percentile within CA. Charities of a similar size with the same main cause include Clam Bayou Apartments Inc ($72k), West Fork Food Pantry ($72k) and Safe Affirming Family Environment ($72k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $19k against liabilities of $0, net assets of $19k.