Elm Ave Coworking

Analysis

Elm Ave Coworking is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in October 2020, 6 years ago. Its declared purposes cover employment, 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, Elm Ave Coworking reported income of $154k and spending of $157k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $106k to $154k (+46%), an average of +46% a year. The sharpest change came in the year to December 2023, when income rose by 46%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Elm Ave Coworking sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 47th percentile within MI. Charities of a similar size with the same main cause include Trinity Family Community Development Corporation ($154k), Texas Grazing Land Coalition Inc ($155k) and Carbondale Main Street ($154k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. At year end it held assets of $49k against liabilities of $8,805, net assets of $40k.