Eight Cap Inc

Analysis

Eight Cap Inc is a registered charity in United States, based in Orleans, MI. It received its IRS tax-exemption ruling in March 1966, 60 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 September 2023, Eight Cap Inc reported income of $17.2m and spending of $17.3m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $14.1m to $17.2m (+22%), an average of +5.2% a year. The sharpest change came in the year to September 2021, when income rose by 32%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Eight Cap Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Oklahoma Baptist Homes for Children Inc ($17.2m), Putnam County Comprehensive Services Inc ($17.3m) and Child and Family Agency of Southeastern Connecticut Inc ($17.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $263k (1.5% of expenses). Other salaries and wages came to $8.8m. At year end it held assets of $3.1m against liabilities of $1.6m, net assets of $1.5m. It reported 358 employees.