Ownership Works Inc

Analysis

Ownership Works Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover community improvement and capacity building, 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, Ownership Works Inc reported income of $7.2m and spending of $7.1m, spending 98% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $21.5m to $7.2m (-66%), an average of -42% a year. The sharpest change came in the year to December 2023, when income dropped by 58%. Over the whole period it spent 26% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ownership Works 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 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Partnership for Economic Development Inc ($7.2m), The Contingent ($7.2m) and Main Street Beatrice Inc ($7.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $773k (11% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $36.6m against liabilities of $2.5m, net assets of $34.1m. It reported 28 employees.