Center for Economic Opportunity and Belonging

Analysis

Center for Economic Opportunity and Belonging is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in February 2023, 3 years ago. Its declared purposes cover community improvement and capacity building, 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 June 2024, Center for Economic Opportunity and Belonging reported income of $733k and spending of $561k, leaving 23% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $144k to $733k (+407%), an average of +407% a year. The sharpest change came in the year to June 2024, when income rose by 407%. Over the whole period it spent 67% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Center for Economic Opportunity and Belonging sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within UT. Charities of a similar size with the same main cause include Arizona Forward Association ($733k), Antiochs Hope Center Inc ($733k) and Skills Inc ($733k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $100k (18% of expenses). Other salaries and wages came to $115k. At year end it held assets of $294k against liabilities of $3,068, net assets of $291k. It reported 3 employees.