Loan Coach Inc

Analysis

Loan Coach Inc is a registered charity in United States, based in Tucson, AZ. It received its IRS tax-exemption ruling in May 2024, 2 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, Loan Coach Inc reported income of $225k and spending of $251k, spending 111% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $471k to $225k (-52%), an average of -31% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. Over the whole period it spent 124% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Loan Coach Inc sits at the 51st percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within AZ. Charities of a similar size with the same main cause include Project Outrun ($225k), Ezrat Chaim Inc ($225k) and Kwco Cares Inc ($225k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $126k (50% of expenses). At year end it held assets of $5,111 against liabilities of $187k, net assets of -$182k. It reported 20 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.