Onmain Inc

Analysis

Onmain Inc is a registered charity in United States, based in Dayton, OH. It received its IRS tax-exemption ruling in August 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Onmain Inc reported income of $67k and spending of $828k, spending 1242% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $444k to $67k (-85%), an average of -38% a year. The sharpest change came in the year to December 2020, when income rose by 318%. Over the whole period it spent 117% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Onmain Inc 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 26th percentile, and in the 27th percentile within OH. Charities of a similar size with the same main cause include Junior League of Peoria Inc ($67k), Greater Dallas Korean American Chamber of Commerce ($67k) and Rotary Youth Activities Incorporated ($67k).

Compensation of current officers, directors and key employees was $277k (33% of expenses). Other salaries and wages came to $231k. At year end it held assets of $4.1m against liabilities of $4.6m, net assets of -$540k.

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.