Red Sweater Project

Analysis

Red Sweater Project is a registered charity in United States, based in Lake Oswego, OR. It received its IRS tax-exemption ruling in February 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Red Sweater Project reported income of $303k and spending of $273k, spending 90% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $317k to $303k (-4.5%), an average of -1.5% a year. The sharpest change came in the year to December 2022, when income rose by 28%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Red Sweater Project sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within OR. Charities of a similar size with the same main cause include Ivy 1879 Foundation Inc ($303k), Valley Preschool Inc ($303k) and Tidewater Youth Services Foundation ($303k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $55k (20% of expenses). Other salaries and wages came to $52k. At year end it held assets of $134k against liabilities of $0, net assets of $134k. It reported 2 employees.