Equipment Finance Cares Inc

Analysis

Equipment Finance Cares Inc is a registered charity in United States, based in Garden City, NY. It received its IRS tax-exemption ruling in June 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Equipment Finance Cares Inc reported income of $111k and spending of $74k, leaving 33% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $24k to $111k (+356%), an average of +356% a year. The sharpest change came in the year to December 2023, when income rose by 356%. Over the whole period it spent 62% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Equipment Finance Cares Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within NY. Charities of a similar size with the same main cause include Hundred Club of Dayton ($111k), Somerset Collection Charitable FDN ($111k) and Mariner Sands Foundation Inc ($111k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.4% of the total. At year end it held assets of $24k against liabilities of $0, net assets of $24k.