Transforming Wealth

Analysis

Transforming Wealth is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in July 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Transforming Wealth reported income of $306k and spending of $219k, leaving 29% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $84k to $306k (+264%), an average of +264% a year. The sharpest change came in the year to December 2023, when income rose by 264%. Over the whole period it spent 74% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Transforming Wealth sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within SD. Charities of a similar size with the same main cause include Casper Family Connections ($306k), Community Chest of New Britain and Berlin Inc ($306k) and Arizona Faith and Families ($306k).

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 $120k. At year end it held assets of $119k against liabilities of $0, net assets of $119k. It reported 3 employees.