Lets Equip Inc

Analysis

Lets Equip Inc is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in November 2020, 6 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Lets Equip Inc reported income of $462k and spending of $596k, spending 129% of what it took in. Across the 3 years on record, from December 2020 to December 2023, income grew from $367k to $462k (+26%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lets Equip 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 69th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include El Puente Del Socorro Inc ($462k), Project Pinball Charity Group Inc ($462k) and Bountiful Basket Nutrition Program Inc ($462k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $118k. At year end it held assets of $191k against liabilities of $0, net assets of $191k. It reported 2 employees.