Equipnet

Analysis

Equipnet is a registered charity in United States, based in Alamo, CA. It received its IRS tax-exemption ruling in June 2001, 25 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Equipnet reported income of $10.8m and spending of $10.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.0m to $10.8m (+259%), an average of +38% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 98% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Equipnet sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Barnabas Foundation Inc ($10.6m), Churches of Christ Disaster Relief Effort Inc ($10.8m) and Opendor Media Inc ($10.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $448k (4.2% of expenses). At year end it held assets of $1.1m against liabilities of $164k, net assets of $904k.