Candles Inc

Analysis

Candles Inc is a registered charity in United States, based in Terre Haute, IN. It received its IRS tax-exemption ruling in May 1984, 42 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Candles Inc reported income of $552k and spending of $491k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $949k to $552k (-42%), an average of -13% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Candles Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within IN. Charities of a similar size with the same main cause include Brooklyn Child Care Inc ($551k), Peaslee Neighborhood Center Inc ($552k) and Somerset Economic Development Corporation ($551k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $82k (17% of expenses). Other salaries and wages came to $124k. At year end it held assets of $1.6m against liabilities of $276k, net assets of $1.3m. It reported 8 employees.