Unlocked Inc

Analysis

Unlocked Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Unlocked Inc reported income of $114k and spending of $56k, leaving 51% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $144k to $114k (-21%), an average of -21% a year. The sharpest change came in the year to December 2023, when income dropped by 21%. Over the whole period it spent 31% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Unlocked Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within NC. Charities of a similar size with the same main cause include Handi-Wheels Transportation Inc ($114k), Upside of Downs ($114k) and Orange County Japanese American Association ($114k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 76% of the total. At year end it held assets of $210k against liabilities of $0, net assets of $210k.