Growingsoul Inc

Analysis

Growingsoul Inc is a registered charity in United States, based in Smallwood, NY. It received its IRS tax-exemption ruling in March 2012, 14 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Growingsoul Inc reported income of $153k and spending of $98k, leaving 36% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $4,071 to $153k (+3663%), an average of +3663% a year. The sharpest change came in the year to December 2023, when income rose by 3663%. Over the whole period it spent 110% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Growingsoul Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include The Princess Project ($153k), Hospice Cup Inc ($153k) and Biznet Incorporated ($153k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $94k against liabilities of $41k, net assets of $54k.