Greatcare Inc

Analysis

Greatcare Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 2005, 21 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, Greatcare Inc reported income of $52.7m and spending of $52.7m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $96k to $52.7m (+54891%), an average of +384% a year. The sharpest change came in the year to December 2020, when income rose by 40720%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Greatcare Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Frasier Meadows Manor Inc ($52.7m), Ability360 Inc ($52.7m) and Area Agency on Aging Planning and Service Area 2 ($52.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $1.8m (3.4% of expenses). Other salaries and wages came to $34.8m. At year end it held assets of $4.4m against liabilities of $1.9m, net assets of $2.5m. It reported 2,169 employees.