Momentum Work Inc

Analysis

Momentum Work Inc is a registered charity in United States, based in Carpinteria, CA. It received its IRS tax-exemption ruling in January 1969, 57 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 June 2023, Momentum Work Inc reported income of $12.7m and spending of $12.3m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.4m to $12.7m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2022, when income rose by 23%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Momentum Work Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Propel Education ($12.7m), Opportunity Development Centers Inc ($12.7m) and Urban Land Conservancy ($12.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $295k (2.4% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $6.6m against liabilities of $1.4m, net assets of $5.2m. It reported 373 employees.