Amplify Equity Inc

Nonprofit profile at a glance

EIN
161568466
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Elmira, NY, USA
Phone
6072168682
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$354,839
Expenses
$262,744
Assets
$441,540
Liabilities
$279,142

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • LINDSAY WOLF (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LINDSAY WOLF (EXECUTIVE DIRECTOR): $84,483 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support community development and promote racial and economic equity amongst low income and historically marginalized communities through character-based loans, education, and mentoring.

What it reported doing in 2024

The equity lab business accelerator and business lendingrenamed from re-imagining inclusive solutions for entrepreneurs (rise), this program provides access to affordable financing, combined with training and technical assistance, to low-income small business owners who are traditionally turned away from mainstream financial institutions.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.4%; rating input score 54
  • Program expense ratio: 71.7%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 26%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 1.68; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 32.2%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 12.1% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 11% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 54.4% of revenue deployed · 71.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $189K in reported program spending
  • Leadership: top reported pay $84K · 8 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.