Scarlet Covering Inc

Analysis

Scarlet Covering Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Scarlet Covering Inc reported income of $2.2m and spending of $1.9m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.2m (+90%), an average of +17% a year. The sharpest change came in the year to December 2022, when income rose by 44%. Over the whole period it spent 93% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Scarlet Covering Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within MD. Charities of a similar size with the same main cause include Gods Anointed New Generation ($2.2m), Boy Scouts of America ($2.2m) and Future Leaders of America ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $157k (8.3% of expenses). Other salaries and wages came to $955k. At year end it held assets of $1.4m against liabilities of $150k, net assets of $1.3m. It reported 41 employees.