Carolines Promise

Analysis

Carolines Promise is a registered charity in United States, based in Wallburg, NC. It received its IRS tax-exemption ruling in February 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Carolines Promise reported income of $127k and spending of $121k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $196k to $127k (-35%), an average of -10% a year. The sharpest change came in the year to December 2021, when income dropped by 46%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carolines Promise sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within NC. Charities of a similar size with the same main cause include Nissi Worldwide Inc ($127k), Ecumenical Lay Council of Northport-East Northport Inc ($127k) and International Life Services Incorporated ($127k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $24k (20% of expenses). Other salaries and wages came to $4,800. At year end it held assets of $110k against liabilities of $1,770, net assets of $108k. It reported 2 employees.