Chariot Riders Inc

Analysis

Chariot Riders Inc is a registered charity in United States, based in Manchester, NJ. It received its IRS tax-exemption ruling in November 1986, 40 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 December 2023, Chariot Riders Inc reported income of $250k and spending of $284k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $183k to $250k (+37%), an average of +8.1% a year. The sharpest change came in the year to December 2020, when income rose by 91%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Chariot Riders Inc sits at the 57th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 65th percentile within NJ. Charities of a similar size with the same main cause include Highlight Catholic Ministries ($250k), Brooklyn Waterfront Artists Coalition Inc ($250k) and Wisconsin Association of Agricultural Educators Inc ($250k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $77k (27% of expenses). At year end it held assets of $291k against liabilities of $438k, net assets of -$147k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.