Single Socks Inc

Analysis

Single Socks Inc is a registered charity in United States, based in Silver City, NM. It received its IRS tax-exemption ruling in September 2009, 17 years ago. 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, Single Socks Inc reported income of $160k and spending of $166k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $204k to $160k (-21%), an average of -21% a year. The sharpest change came in the year to December 2023, when income dropped by 21%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Single Socks Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 45th percentile within NM. Charities of a similar size with the same main cause include Redbank Valley Public Library ($160k), St Andrews Society of North Carolina Inc ($160k) and Mountain Spirit Center Inc ($160k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Other salaries and wages came to $87k. At year end it held assets of $71k against liabilities of $1,011, net assets of $70k. It reported 10 employees.