Wheat Inc

Analysis

Wheat Inc is a registered charity in United States, based in West Haven, CT. It received its IRS tax-exemption ruling in November 1987, 39 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 2023, Wheat Inc reported income of $217k and spending of $238k, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $153k to $217k (+42%), an average of +9.1% a year. The sharpest change came in the year to June 2020, when income rose by 66%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wheat Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within CT. Charities of a similar size with the same main cause include South Texas Youth Soccer Assoc ($217k), LA Casa Community Center ($217k) and Deafness Affordable Housing Corporation ($217k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $83k (35% of expenses). Other salaries and wages came to $25k. At year end it held assets of $447k against liabilities of $1,920, net assets of $445k. It reported 5 employees.