The Carver Inc

Analysis

The Carver Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in July 1944, 82 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, The Carver Inc reported income of $9.9m and spending of $9.6m, spending 97% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $5.0m to $9.9m (+98%), an average of +19% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Carver Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Community Development Center Inc ($9.9m), Apostolic Christian Care Inc ($9.9m) and Senior Citizens United Community Services of Camden County Inc ($9.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $542k (5.7% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $5.9m against liabilities of $664k, net assets of $5.2m. It reported 640 employees.