Knit for Life

Analysis

Knit for Life is a registered charity in United States, based in Gig Harbor, WA. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Knit for Life reported income of $65k and spending of $75k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $81k to $65k (-20%), an average of -20% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Knit for Life sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 20th percentile within WA. Charities of a similar size with the same main cause include Alcoholics Anonymous Cedar Park Hope Group ($65k), Deaf-Blind Contact Center Inc ($65k) and Pink Phoenix Dragon Boat Team ($65k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. At year end it held assets of $12k against liabilities of $2,164, net assets of $10k.