Characterworks Inc

Analysis

Characterworks Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in October 2004, 22 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Characterworks Inc reported income of $1.0m and spending of $1.1m, spending 113% of what it took in. Across the 4 years on record, from June 2021 to June 2024, income grew from $478k to $1.0m (+111%), an average of +28% a year. The sharpest change came in the year to June 2022, when income rose by 73%. Over the whole period it spent 101% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Characterworks Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Groundwork Northeast Revitalization Group Inc ($1.0m), First Step Foundation ($1.0m) and Family Based Services Association of New Jersey ($1.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 8.9% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $297k (26% of expenses). Other salaries and wages came to $226k. At year end it held assets of $275k against liabilities of $0, net assets of $275k. It reported 54 employees.