Economic Resources Corporation

Analysis

Economic Resources Corporation is a registered charity in United States, based in Lynwood, CA. It received its IRS tax-exemption ruling in July 1969, 57 years ago. 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, Economic Resources Corporation reported income of $4.6m and spending of $2.7m, leaving 40% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $4.6m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2022, when income rose by 73%. Over the whole period it spent 52% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Economic Resources Corporation 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 92nd percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Christian League for the Handicapped Inc ($4.5m), San Jose Mothers Milk Bank ($4.6m) and Delaware Advancement Corporation ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $559k (21% of expenses). Other salaries and wages came to $434k. At year end it held assets of $24.2m against liabilities of $1.4m, net assets of $22.8m. It reported 8 employees.