Carolyns Place

Analysis

Carolyns Place is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in December 1992, 34 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 December 2023, Carolyns Place reported income of $484k and spending of $379k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $292k to $484k (+66%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 68% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carolyns Place sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 67th percentile within CT. Charities of a similar size with the same main cause include Fenton Center of Hope ($484k), Cedars Elderly Home Inc ($484k) and Champ Assistance Dogs Inc ($484k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $158k (42% of expenses). Other salaries and wages came to $16k. At year end it held assets of $1.3m against liabilities of $1,632, net assets of $1.3m. It reported 9 employees.