Transform Finance Inc

Analysis

Transform Finance Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 2022, 4 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 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, Transform Finance Inc reported income of $399k and spending of $622k, spending 156% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $536k to $399k (-26%), an average of -7.1% a year. The sharpest change came in the year to December 2022, when income rose by 87%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Transform Finance Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Watershed Human and Community Development Agency Inc ($399k), Alliance 98 ($399k) and Philadelphia Accelerator Fund ($399k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $264k (42% of expenses). Other salaries and wages came to $94k. At year end it held assets of $669k against liabilities of $29k, net assets of $640k. It reported 4 employees.