Patch Inc

Analysis

Patch Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in November 2016, 10 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, Patch Inc reported income of $410k and spending of $375k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $296k to $410k (+38%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 89% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Patch Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within TN. Charities of a similar size with the same main cause include Police Athletic League of Kansas City Inc ($410k), Upstate Institute of Youth Programsinc ($410k) and Aliquippa Impact ($409k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $52k (14% of expenses). Other salaries and wages came to $40k. At year end it held assets of $468k against liabilities of $350k, net assets of $119k. It reported 6 employees.