Edsource Inc

Analysis

Edsource Inc is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in October 1978, 48 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Edsource Inc reported income of $5.7m and spending of $3.7m, leaving 36% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.3m to $5.7m (+74%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 98%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Edsource Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include German-American School of Portland ($5.7m), Tnachieves ($5.7m) and Abby Lane Housing Corporation ($5.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $455k (12% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $7.5m against liabilities of $1.3m, net assets of $6.2m. It reported 29 employees.