Save a Suit Inc

Analysis

Save a Suit Inc is a registered charity in United States, based in Bethel, CT. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover employment, which this site groups under community and economic 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 2022, Save a Suit Inc reported income of $210k and spending of $219k, spending 105% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $106k to $210k (+98%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 491%. Over the whole period it spent 113% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Save a Suit Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within CT. Charities of a similar size with the same main cause include Native American Jump Start ($210k), North Shore Evp ($210k) and African Chamber of Commerce of Colorado USA ($210k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 227% of the total. Compensation of current officers, directors and key employees was $28k (13% of expenses). At year end it held assets of $292k against liabilities of $139k, net assets of $153k. It reported 1 employees.