Education Credit Union Foundation

Analysis

Education Credit Union Foundation is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in September 2022, 4 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, Education Credit Union Foundation reported income of $984k and spending of $954k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $6,210 to $984k (+15751%), an average of +15751% a year. The sharpest change came in the year to December 2023, when income rose by 15751%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Education Credit Union Foundation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Radclift Inc ($984k), Hiawatha Manor Inc ($985k) and Hood County Committee on Aging ($984k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $32k against liabilities of $0, net assets of $32k.