Fund for Guaranteed Income

Analysis

Fund for Guaranteed Income is a registered charity in United States, based in El Segundo, CA. It received its IRS tax-exemption ruling in November 2021, 5 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, Fund for Guaranteed Income reported income of $4.2m and spending of $5.0m, spending 120% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $9.7m to $4.2m (-57%), an average of -57% a year. The sharpest change came in the year to December 2023, when income dropped by 57%. Over the whole period it spent 56% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fund for Guaranteed Income sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Seeds That Grow Inc ($4.2m), Child and Family Policy Institute of California ($4.2m) and Silicon Valley De-Bug ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $206k (4.1% of expenses). Other salaries and wages came to $104k. At year end it held assets of $6.9m against liabilities of $2.4m, net assets of $4.6m. It reported 3 employees.