Third and Oak Corporation

Analysis

Third and Oak Corporation is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in October 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Third and Oak Corporation reported income of $16.4m and spending of $14.8m, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $14.7m to $16.4m (+11%), an average of +3.6% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Third and Oak Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within KY. Charities of a similar size with the same main cause include Berkshire Retirement Community Inc ($16.4m), David and Margaret Home Inc ($16.4m) and Guadalupe Center Inc ($16.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $344k (2.3% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $9.1m against liabilities of $14.4m, net assets of -$5.3m. It reported 311 employees.