Golden String Inc

Analysis

Golden String Inc is a registered charity in United States, based in Youngstown, OH. It received its IRS tax-exemption ruling in September 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Golden String Inc reported income of $1.0m and spending of $525k, leaving 48% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $463k to $1.0m (+116%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 165%. Over the whole period it spent 66% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Golden String Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within OH. Charities of a similar size with the same main cause include Extra Table Feeds Inc ($1.0m), M-Power Ministries ($1.0m) and Good Samaritan Home Foundation ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 38% of the total. Other salaries and wages came to $188k. At year end it held assets of $2.6m against liabilities of $132k, net assets of $2.5m. It reported 71 employees.