Rafts Inc

Analysis

Rafts Inc is a registered charity in United States, based in Lewiston, ME. It received its IRS tax-exemption ruling in March 1984, 42 years ago. 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 June 2024, Rafts Inc reported income of $2.7m and spending of $2.5m, spending 91% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.7m to $2.7m (+55%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 45%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rafts Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within ME. Charities of a similar size with the same main cause include New York College of Health Professions ($2.7m), Home for Aged Women in Salem ($2.7m) and Grizzly Athletic Association ($2.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.3% and program service revenue 100% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $1.1m against liabilities of $250k, net assets of $897k. It reported 46 employees.