Stempower Inc

Analysis

Stempower Inc is a registered charity in United States, based in Swampscott, MA. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Stempower Inc reported income of $2.5m and spending of $3.1m, spending 126% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $880k to $2.5m (+181%), an average of +41% a year. The sharpest change came in the year to December 2021, when income rose by 97%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Stempower Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Hope Hospice and Palliative Care Inc ($2.5m), Garment Worker Center ($2.5m) and Pacifica Resource Center ($2.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $225k against liabilities of $23k, net assets of $202k.