Patchworks Inc

Analysis

Patchworks Inc is a registered charity in United States, based in Louisville, CO. It received its IRS tax-exemption ruling in May 2009, 17 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 June 2023, Patchworks Inc reported income of $157k and spending of $530k, spending 338% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $475k to $157k (-67%), an average of -24% a year. The sharpest change came in the year to June 2021, when income rose by 74%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Patchworks Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 45th percentile within CO. Charities of a similar size with the same main cause include Ladies Pascoag Library Association ($157k), St Marys Boosters Inc ($157k) and Parent Booster USA Inc ($157k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 61% of the total. At year end it held assets of $306k against liabilities of $17k, net assets of $289k.