CVS Health Employee Relief Fund

Analysis

CVS Health Employee Relief Fund is a registered charity in United States, based in Woonsocket, RI. It received its IRS tax-exemption ruling in June 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, CVS Health Employee Relief Fund reported income of $711k and spending of $453k, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $525k to $711k (+35%), an average of +7.9% a year. The sharpest change came in the year to December 2020, when income rose by 454%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, CVS Health Employee Relief Fund sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within RI. Charities of a similar size with the same main cause include Freedom Gates Boys Ranch Inc ($711k), Padrino Childrens Foundation Inc ($711k) and Aha Childcare & Family Learning Center ($711k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.