Platinum Minds Inc

Analysis

Platinum Minds Inc is a registered charity in United States, based in Chester, NJ. It received its IRS tax-exemption ruling in November 2007, 19 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Platinum Minds Inc reported income of $74k and spending of $91k, spending 123% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $63k to $74k (+18%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 138% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Platinum Minds Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 36th percentile within NJ. Charities of a similar size with the same main cause include Epic Transitions ($74k), Fayette County Free Fair Association Inc ($74k) and Youth & Family Empowerment Services ($74k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $9,382 against liabilities of $18k, net assets of -$8,205.