Sharmada Foundation Inc

Analysis

Sharmada Foundation Inc is a registered charity in United States, based in Key Biscayne, FL. It received its IRS tax-exemption ruling in June 2015, 11 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, Sharmada Foundation Inc reported income of $916k and spending of $837k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $497k to $916k (+84%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 79%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sharmada Foundation 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 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Common Roots Montessori School ($916k), Pacific Northwest Cwoa Chapter ($916k) and Senior Center of West Seattle ($916k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $140k (17% of expenses). At year end it held assets of $188k against liabilities of $55k, net assets of $133k. It reported 1 employees.