The Converse Home Inc

Analysis

The Converse Home Inc is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in March 2012, 14 years ago. 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 October 2023, The Converse Home Inc reported income of $5.9m and spending of $6.0m, spending 101% of its income. Across the 5 years on record, from October 2019 to October 2023, income grew from $5.2m to $5.9m (+14%), an average of +3.3% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Converse Home Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within VT. Charities of a similar size with the same main cause include Innovation Development Institute Inc ($5.9m), Friends of Santa Cruz State Parks ($5.9m) and Manchester-Bidwell Corporation ($5.9m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 3.0% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $205k (3.4% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $9.3m against liabilities of $6.4m, net assets of $2.9m. It reported 170 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.