Echo Foundation

Analysis

Echo Foundation is a registered charity in United States, based in Culver City, CA. It received its IRS tax-exemption ruling in October 1970, 56 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Echo Foundation reported income of $7.5m and spending of $8.2m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.3m to $7.5m (+20%), an average of +4.6% a year. Over the whole period it spent 115% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Echo Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include University of Alabama Alumni Assoc Alumni Hall ($7.5m), Idaho Virtual High School Inc ($7.5m) and Montana Family Practice Residency ($7.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.3% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $551k (6.7% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $12.4m against liabilities of $5.7m, net assets of $6.7m. It reported 75 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.