Erik Inc

Analysis

Erik Inc is a registered charity in United States, based in Rainbow City, AL. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 2021, Erik Inc reported income of $73k and spending of $125k, spending 171% of what it took in. Across the 3 years on record, from December 2019 to December 2021, income fell from $2.8m to $73k (-97%), an average of -84% a year. The sharpest change came in the year to December 2020, when income dropped by 97%. Over the whole period it spent 5.4% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Erik Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 27th percentile within AL. Charities of a similar size with the same main cause include Jeannette Outreach Factory Inc ($73k), Team Jam ($73k) and Cambridge Actors Support Team Inc ($73k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 1.2% of the total. At year end it held assets of $3.2m against liabilities of $0, net assets of $3.2m.