Good Karma Bikes

Analysis

Good Karma Bikes is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in February 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Good Karma Bikes reported income of $818k and spending of $634k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $644k to $818k (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Good Karma Bikes sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include Pendleton Senior and Family Services Inc ($818k), Cache Refugee and Immigrant Connection ($818k) and M S D of Lawrence Township Foundation Inc ($818k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $160k (25% of expenses). Other salaries and wages came to $235k. At year end it held assets of $440k against liabilities of $12k, net assets of $427k. It reported 8 employees.