Seven Pearls Foundation Inc

Analysis

Seven Pearls Foundation Inc is a registered charity in United States, based in Cary, NC. It received its IRS tax-exemption ruling in July 2008, 18 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, Seven Pearls Foundation Inc reported income of $134k and spending of $240k, spending 179% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $270k to $134k (-50%), an average of -16% a year. The sharpest change came in the year to December 2021, when income rose by 205%. Over the whole period it spent 56% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seven Pearls Foundation Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 42nd percentile within NC. Charities of a similar size with the same main cause include New Beginnings of Westchester Inc ($134k), Local 47 Ibew Injured Workers Relief Fund ($134k) and Cityhope of New Hampshire ($134k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 18% of the total. At year end it held assets of $2.4m against liabilities of $122k, net assets of $2.3m.