Colors of the World Inc

Analysis

Colors of the World Inc is a registered charity in United States, based in Hamden, CT. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 May 2024, Colors of the World Inc reported income of $55k and spending of $46k, spending 83% of its income. Across the 2 years on record, from May 2023 to May 2024, income fell from $70k to $55k (-21%), an average of -21% a year. The sharpest change came in the year to May 2024, when income dropped by 21%. Over the whole period it spent 76% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Colors of the World Inc sits at the 25th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within CT. Charities of a similar size with the same main cause include 601 Squad Club Inc ($55k), Port St Joe Youth Choir ($56k) and Youth Services of Oklahoma Inc ($55k).

On its Form 990-EZ for the period ending May 2024, revenue came from contributions and grants 72% and program service revenue 28% of the total. At year end it held assets of $29k against liabilities of $0, net assets of $29k.