Caritas Inc

Analysis

Caritas Inc is a registered charity in United States, based in Beloit, WI. It received its IRS tax-exemption ruling in October 1978, 48 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, Caritas Inc reported income of $903k and spending of $947k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $675k to $903k (+34%), an average of +7.5% a year. The sharpest change came in the year to December 2020, when income rose by 58%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Caritas Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within WI. Charities of a similar size with the same main cause include McQuade Foundation ($903k), Assistance League of Greater San Diego ($903k) and Altus Residential Inc ($903k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $51k (5.4% of expenses). Other salaries and wages came to $46k. At year end it held assets of $644k against liabilities of $24k, net assets of $620k. It reported 8 employees.