Ubuntu Inc

Analysis

Ubuntu Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in July 2021, 5 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, Ubuntu Inc reported income of $2.1m and spending of $2.5m, spending 119% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.3m to $2.1m (+60%), an average of +9.9% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ubuntu Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Compassion Planet ($2.1m), YWCA of the Lower Cape Fear Inc ($2.1m) and Family Independence Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $128k (5.2% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $4,400 against liabilities of $545k, net assets of -$541k. It reported 243 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.