Momentum Wheels for Humanity

Analysis

Momentum Wheels for Humanity is a registered charity in United States, based in Chatsworth, CA. It received its IRS tax-exemption ruling in August 1996, 30 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 Wheels for Humanity reported income of $5.4m and spending of $5.4m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.7m to $5.4m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2022, when income rose by 62%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Momentum Wheels for Humanity sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include University of Maryland Oncology ($5.4m), Haven House Inc ($5.4m) and Channel Marker Inc ($5.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $464k (8.6% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $4.7m against liabilities of $473k, net assets of $4.2m. It reported 17 employees.