Underground Ne

Analysis

Underground Ne is a registered charity in United States, based in Bloomfield, CT. 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, Underground Ne reported income of $223k and spending of $274k, spending 123% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $162k to $223k (+38%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 114% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Underground Ne sits at the 50th 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 53rd percentile within CT. Charities of a similar size with the same main cause include Joshuas Storehouse & Distribution Center ($223k), Arizona S Family to the Homeless Inc ($223k) and A Place to Belong ($223k).

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 $146k. At year end it held assets of $114k against liabilities of $3,538, net assets of $110k. It reported 8 employees.