Cherish Families

Analysis

Cherish Families is a registered charity in United States, based in Herriman, UT. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic 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, Cherish Families reported income of $2.7m and spending of $2.5m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $2.7m (+41%), an average of +9.1% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cherish Families sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within UT. Charities of a similar size with the same main cause include California Emerging Technology Fund ($2.7m), Conscience Community Network LLC ($2.7m) and Anna Community Development Corporation ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $127k (5.0% of expenses). Other salaries and wages came to $959k. At year end it held assets of $1.2m against liabilities of $258k, net assets of $901k. It reported 24 employees.