Erienet

Analysis

Erienet is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in December 2023, 3 years ago. Its declared purposes cover employment, 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, Erienet reported income of $4.2m and spending of $841k, leaving 80% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $932 to $4.2m (+453513%), an average of +453513% a year. The sharpest change came in the year to December 2023, when income rose by 453513%. Over the whole period it spent 20% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Erienet sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Florida Classic Consortium Corporation ($4.2m), Coalition on Homeless and Housing in Ohio ($4.2m) and Kandu Industries Inc ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $91k (11% of expenses). Other salaries and wages came to $14k. At year end it held assets of $35.1m against liabilities of $31.0m, net assets of $4.2m. It reported 2 employees.