Philoscare Corp

Analysis

Philoscare Corp is a registered charity in United States, based in Winter Garden, FL. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Philoscare Corp reported income of $256k and spending of $248k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $365k to $256k (-30%), an average of -30% a year. The sharpest change came in the year to December 2023, when income dropped by 30%. Over the whole period it spent 118% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Philoscare Corp sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 62nd percentile within FL. Charities of a similar size with the same main cause include United Way of Virginias Eastern Shore Inc ($256k), Holt Brothers Foundation Inc ($256k) and For the Future Foundation ($256k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $76k against liabilities of $58k, net assets of $18k.