Patchwork Central Inc

Analysis

Patchwork Central Inc is a registered charity in United States, based in Evansville, IN. It received its IRS tax-exemption ruling in May 1979, 47 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 September 2023, Patchwork Central Inc reported income of $523k and spending of $338k, leaving 35% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $208k to $523k (+151%), an average of +26% a year. The sharpest change came in the year to September 2021, when income rose by 108%. Over the whole period it spent 49% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Patchwork Central Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within IN. Charities of a similar size with the same main cause include Benson Memorial Library Inc ($523k), First Priority of Alabama Inc ($523k) and National Church Residences of Shaler Pa ($523k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $96k (28% of expenses). Other salaries and wages came to $90k. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m. It reported 9 employees.