Work to Ride Inc

Analysis

Work to Ride Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 1994, 32 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 July 2023, Work to Ride Inc reported income of $3.5m and spending of $1.4m, leaving 60% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $500k to $3.5m (+603%), an average of +63% a year. The sharpest change came in the year to July 2021, when income rose by 798%. Over the whole period it spent 32% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Work to Ride Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include Meals on Wheels of Solano County ($3.5m), Mercy Research ($3.5m) and Financial Education & Research Foundation Inc ($3.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $81k (5.8% of expenses). Other salaries and wages came to $193k. At year end it held assets of $7.7m against liabilities of $6,303, net assets of $7.7m. It reported 7 employees.