Utah Financial Empowerment Coalition

Analysis

Utah Financial Empowerment Coalition is a registered charity in United States, based in Kaysville, UT. It received its IRS tax-exemption ruling in May 2024, 2 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, Utah Financial Empowerment Coalition reported income of $76k and spending of $87k, spending 114% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income grew from $76k to $76k (+0.9%), an average of +0.2% a year. The sharpest change came in the year to June 2022, when income rose by 159%. Over the whole period it spent 81% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Utah Financial Empowerment Coalition sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within UT. Charities of a similar size with the same main cause include Vienna Area Christian Ministerial Alliance ($76k), Haydens Heart Inc ($76k) and Macedonian Call Foundation of Mississippi ($76k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 4.2% of the total. At year end it held assets of $36k against liabilities of $0, net assets of $36k.

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.