Mojaloop Foundation Inc

Analysis

Mojaloop Foundation Inc is a registered charity in United States, based in Wakefield, MA. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Mojaloop Foundation Inc reported income of $5.4m and spending of $3.3m, leaving 39% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.6m to $5.4m (+237%), an average of +50% a year. The sharpest change came in the year to December 2021, when income rose by 123%. Over the whole period it spent 69% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Mojaloop Foundation Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Hucus Inc ($5.4m), Good News in Action Inc ($5.4m) and Pardes Institute of Jewish Studies North America Inc ($5.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. At year end it held assets of $4.7m against liabilities of $536k, net assets of $4.2m.